Office Market Dashboards Colliers International | Greater Toronto Area
Q1
2010
GREATER TORONTO AREA
Office Market Dashboards 1.
GTA Regional
21. Don Mills – Eglinton
2.
Downtown
22. Hwy 404 & Hwy 407
3.
Financial Core
23. Woodbine-Steeles
4.
Downtown North
24. Markham
5.
Downtown East
25. Pickering-Oshawa
6.
Downtown South
7.
Downtown West
8.
Midtown
9.
Yonge-Bloor
10.
Yonge-St.Clair
11.
Yonge-Eglinton
12.
GTA North
13.
Dufferin-Finch
14.
North Yonge Corridor
15.
Richmond Hill
16 16.
V Vaughan h
17.
Yorkdale
18.
GTA East
19 19.
Consumer Road
20.
Duncan Mills
26. Scarborough Town Centre 27. Toronto East 28. GTA West 29. Airport Corporate Centre 30. Airport East 31. Airport West 32. Hwy 427 /Bloor-Islington 33. Brampton 34. Burlington 35. Cooksville 36. Hurontario & Hwy 401 37. Mississauga City Centre 38. Meadowvale 39. Oakville 40. Sheridan
Q1 | 2010
COLLIERS INTERNATIONAL
GTA OFFICE MARKET AND SUBMARKET BOUNDARIES
LEGEND
Highway Highway Highway Highway Highway Highway 9 99 99 9
Highway Main Road GO Transit
DF DF KH KH YD YD
Gardiner Gardiner Gardiner Expressway Expressway Expressway Expressway Gardiner Gardiner Gardiner Expressway
St. St. St. Clair Clair Clair Avenue Avenue Avenue West West West Clair Avenue West St. St. St. Clair Avenue West
Spadina Spadina Spadina Road Road Spadina Spadina Road Spadina Road Road Road
CV CV
TW TW
YS YS
YB YB
Bloor Bloor Bloor Street Street Street West West West Bloor Street Bloor Bloor Street West Street West West
College Street College College Street Street Street College College College Street Street
LAKE ONTARIO
Dundas West Dundas Street Dundas Street West Street West Dundas Street West West
DN DN
Street Street Street Sherbourne Sherbourne Sherbourne Street Street Sherbourne Sherbourne Sherbourne Street
Avenue Avenue Avenue Ossington Ossington Ossington Avenue Avenue Ossington Avenue Ossington Ossington
66 aayyy666 w w w w waaa igigghhhhhw H H H H Hiigig
BU BU
TE TE
Street Street Dufferin Street Dufferin Dufferin Street Street Street Dufferin Dufferin Dufferin
333MC 3MC 44400000033 yyyyyy444 a a a a a a ww ww w hhhw iiggigggghhh H HH HH Hiii W W W W W EEEW Q Q Q Q Q QEEE
YS YS
D D D oo oo nn nn D D Do V V V on al al al nV le le le V Val al alle Pa le P P leyyyyyy P ark aa aa rkw rk rk P P way w rk rk ay ay w w w ay ay ay
TW TW
Parliament Parliament Parliament Street Street Street Parliament Parliament Parliament Street Street Street
HB HB
ST ST
DO DO
Mount Mount Mount Pleasant Pleasant Pleasant Road Road Road Pleasant Road Mount Mount Mount Pleasant Road
AC AC
YE YE
Prepared By: Colliers International Research Department
Highway Highway Highway 401 401 401 401 Highway Highway Highway 401
CR CR DM DM
OV OV
aaaaayyyyyy W W W W ttthhtthhhhW e e e aabbbbbee lliilizziizzzaaa E El l EEE eeeennnn e e e e Q Q Quuuu Q Q Q
PO PO
407 407 Highway Highway Highway 407 407 407 Highway 407 Highway Highway
Yonge Yonge Yonge Street Street Street Street Yonge Yonge Yonge Street Street
AE AE
NY NY
SW SW 777 444000000777 aaaaaayyyyyy444 w w w w w w h h h h h h g g g iigigg H Hiii HH HH
Avenue Avenue Avenue Road Road Avenue Avenue Avenue Road Road Road Road
Highw Highw Highw ay ay 427 427 Highw Highw Highway ay ay ay 427 427 427 427
111000 yy4444411 waaaaayyy w w igigghhhhhww H H H H Hiii
HH HH MV MV
CO CO
MA MA
WS WS
AW AW
111 444444000000111 aaayyyyyy w w w waaa w w h h h h h h g g g iigigg H Hiii HH HH
H7 H7
H Hig ig ighw H hw hway ig H H hw ig hw ay ay 48 48 48 48 48 48
H H H ig ig H H Hig ig ig igh w w hh hh hw w w wa aa aa ayyyyyy 4 44 44 40 00 00 00 00 00 0
WB WB
BR BR
Submarket Boundary
Hi Hi Hi gh gh wa wa High Hi Hi ghwa gh gh 40 40 wayyyyyy 40 wa wa 404 40 40 4 44 44
RH RH
TE TE
Queen Queen Queen Street Street Street West West West Queen Queen Queen Street Street Street West West West
00
10 10 kilometers kilometers
20 20
DW DW
King King Street Street Street West West West King Street King King Street West Street West West
FC FC
DE DE
DS DS
Gardine Gar dinerrrrr Exp dine Gar dine Gar Gar Exp Express dine Exp way way way ress ressway Exp way way
Our Knowledge is your Property 速 Colliers Macaulay Nicolls (Ontario) Inc., Brokerage and certain of its subsidiaries, is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies with over 240 offices throughout more than 50 countries worldwide. This document has been prepared by Colliers International for advertising and general information only. Colliers International does not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.
Office Region Dashboard: Greater Toronto Area MAP OF REGION Brock Brock Brock Street Street Brock Brock Street Street Street
REGIONAL INDICATORS
Q1-10 Highway 999 Highway Highway Highway Highway
Office Inventory*
184,812,679
185,826,325
Net Absorption
148,477
213,590
Vacancy Rate
6.5%
6.5%
Average Asking Net Rent
$16.60
$16.35
Average Additional Rent
$14.84
$14.69
407 407 407
427 427 427 427 427
0 00 4 10 111 41 444
000111 4 4440
Highway Highway 48 Highway 48 48 Highway Highway 48 48
Trend 40 404 40 40 444
Q1 2010
4 44400 00 00 00
Q4 2009
333 444000333
401 401 401 401 401
66 yy6 ayyy6 ayyyya 6 66 666 wya w a w a w a hw hw hw h h h w w w h h h ig ig hw ig ig ig ig ig H H igig H H H H H HH
W W W EE EE E Q Q QE
aaayyy W W hhhW tth tth tth bbeee zzzaaaab EEElilililiz E
000 0777 444 40 4 eeennnnn uuueeeee Q Q Quuu
Highw Highw Highw High High High ay 5 ay ay way 5 555 way way
LAKE ON TARIO 50 50
25 25
00
kilometers kilometers
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 2095 office buildings surveyed in the GTA office region.
AVAILABLE SPACE OPTIONS Number of units on the regional market by size brackets
AVAILABLE SUPPLY SPLIT Sublease
Direct
Sublease as % of Total Available
20,000,000
Square Feet
18,000,000
Total Available Office Space: 15285487 sf
45% 40%
14,000,000
35%
12,000,000
8,000,000
20 - 50k sf
50k - 100k sf
100k sf +
1599
636
401
334
31
27
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q1 2010 TOP Office Lease Transactions by Size
25%
Address
Suite
Sq. Ft.
Landlord
Tenant
125 Queens Quay E
500-600
65,000
TEDCO
Corus Entertainment Inc
6509 Airport Road
100
60,000
Crown Realty Partners
Lafarge
300
32,796
Allied Properties
CACC
20%
6,000,000 Available Direct
15%
81%
10%
2,000,000
5%
500 King Street W
0%
0 Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
TOP Office Sale Transactions by Price
Q1 2010
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
Gross Rent
$70
80,000,000
$60
70,000,000 70 000 000
$61.52
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
2/12/2010
West Metro Corporate Centre
$128,500,000
TransGlobe
Whiterock REIT
613,000
$210.00
2/12/2010
Valhalla Executive Centre
$59,750,000
TransGlobe
Whiterock REIT
327,000
$183.00
2/10/2010
2200-2206 Eglinton Avenue East
$45,700,000
GE Capital Canada Real Estate
Dundee REIT
436,803
$105.00
60,000,000
$50
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
40,000,000
$24.58
$30
$31.66
30,000,000
$28.91
$20
Sq. Ft.
50,000,000 $40 Gross Rent $/Sq. Ft.
10k - 20k sf
30%
Available Sublease 19%
10,000,000
Finance 27%
Data,Publishing, Broadcasting Services 12%
20,000,000
$10
10,000,000
$-
Professional Services 22%
Class AAA
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Manufacturing & Distribution 16%
18 MONTH TREND Absorption
20
Asking Net Rent
Vacancy Rate
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Q2 2010
207,000
N/A TBD
Q1 2010
6.2% 6.0%
15 York Street
Cadillac Fairview
Q1 2010
5.2% 5.0% 4.8%
-10
Q1 2011
BMO
2465 Argentia Road
5.4%
-5
PricewaterhouseCoopers
18 York Street
-
Q4 2009
650,000 250,000
6.4%
5.6%
Q3 2009
Great West Life First Gulf Corporation & Sun Life
6.5%
5.8%
Q2 2009
Anchor Tenant
Address
5
Q1 2009
Sq. Ft.
6.6%
10
Q4 2008
Developer
$16.35
4.6%
Vacancy Rate
15
Public Service & Private Sector Services 21%
Others 2%
7.0% 6.8%
Net Rent $/sf. / Absorption (100,000's)
4k - 10k sf
50%
16,000,000
4,000,000
0 - 4k sf
Est. Com.
REGIONAL CHARACTERISTICS * The GTA is Canada's largest urban economic region in terms of size in population, economy and office space. * Built on strong foundations that include world-renowned educational and health institutions, a diversity of internationally competitive sectors and clusters, and a highly-skilled, well-educated and growing population. * GTA includes the City of Toronto plus & surrounding regional municipalities, which are comprised of 25 local municipalities of which 11 have populations greater than 100,000. * Over time Toronto has maintained its position as Canada's financial and industrial center. * Economic strength and dominance of the area is reflected in its concentration of corporate headquarters.
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to or withdrawal All numbers reported off publishing, however we acknowledge may be over t change h ithd l without ith t notice. ti b t d use the th mostt accurate t information i f ti available il bl att the th time ti bli hi h k l d that th t there th b marginal i l changes h time as more accurate information becomes available.
Our Knowledge is your Property速
COLLIERS INTERNATIONAL
DOWNTOWN MARKET AND SUBMARKET BOUNDARIES Street Street Street Dupont Dupont Dupont Street Street Street Dupont Dupont Dupont
LEGEND Road Avenue Avenue Road Avenue Road Road Avenue Road Avenue
Main Road GO Transit
Parliament Parliament Parliament Street Street Parliament Parliament Parliament Street Street Street
Sherbourne Sherbourne Sherbourne Street Street Sherbourne Sherbourne Sherbourne Street Street Street
College College College Street Street Street Street College College College Street ue ue ue Aven Aven Aven rsity rsity rsity ue ue Unive Unive Unive Avenue Aven rsity Aven rsity University Unive Unive
Dundas Dundas Dundas Street Street Street West West West Street West Dundas Dundas Dundas Street West
DN DN
Gerrard Gerrard Gerrard Street Street Street East East East
Donnn n Va Do Do Valley Do lley Pa Va lley Va lley Pa Parkw rkw rkway ay ay ay ay ay
Submarket Boundary Jarvis Jarvis Jarvis Street Street Jarvis Jarvis Jarvis Street Street Street
Church Church Church Street Street Church Church Church Street Street Street
Yonge Yonge Yonge Street Street Yonge Yonge Yonge Street Street Street
Street Street Street BayStreet Bay Bay Street Street Bay Bay Bay
Spadina Spadina Spadina Avenue Avenue Spadina Spadina Spadina Avenue Avenue Avenue
Dufferin Dufferin Dufferin Street Street Dufferin Dufferin Dufferin Street Street Street
Ossington Ossington Ossington Avenue Avenue Ossington Ossington Ossington Avenue Avenue Avenue
Bathurst Bathurst Bathurst Street Street Bathurst Bathurst Bathurst Street Street Street
Bloor Bloor Bloor Street Street Street West West West Street West Bloor Bloor Bloor Street West
Highway
Prepared By: Colliers International Research Department
Queen Queen Queen West West Street Street West Street Queen Queen Queen Street West Street West Street West Adelaide Adelaide Adelaide West Street West West Street Street West Adelaide Adelaide Adelaide Street West Street West Street
FC FC
DW DW
DE DE
Front Front Front Street Street Street West West West Street West Front Front Front Street West eetttttt ee ee Stree Str Str rk Str rk rk ee ee York Yo Str Str Yo rk rk Yo Yo
DS DS
Gardiner Gardiner Expressway Expressway Gardiner Expressway Gardiner Gardiner Expressway Expressway Expressway st st E st st Ea aa aast E E Q aa aayyyyy E uu uu Qu ua 's Q Q 'sQ 's 's nn nn's ee een Q Q ee eee uu uu ue Qu Q Q
Lake Lake Lake Shore Shore Shore Boulevard Boulevard Boulevard West West West
00
0.5 0.5 kilometers kilometers
11
LAKE ONTARIO
Our Knowledge is your Property 速 Colliers Macaulay Nicolls (Ontario) Inc., Brokerage and certain of its subsidiaries, is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies with over 240 offices throughout more than 50 countries worldwide. This document has been prepared by Colliers International for advertising and general information only. Colliers International does not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.
Office Market Dashboard: Downtown
Q1-10 MAP OF MARKET
(90,748)
DN DN
College College CollegeStreet Street Street Street College College College Street
Avenue Avenue University UniversityAvenue University Avenue Avenue University
5.5%
5.6%
Average Asking Net Rent
$21.88
$21.15
Dufferin DufferinStreet Street Street Dufferin Dufferin Dufferin Street Street
DundasStreet Dundas Street West West West Dundas Street West Dundas Dundas Street Street West
Vacancy Rate
$20.27
Gerrard Gerrard GerrardStreet Street Street StreetWest West West West Gerrard Gerrard Gerrard Street Street West West
Gerrard Gerrard GerrardStreet Street Street StreetEast East East East Gerrard Gerrard Gerrard Street Street East Dundas Dundas DundasStreet Street Street StreetEast East East East Dundas Dundas Dundas Street Street East
Queen Queen Street QueenStreet Street Street West Queen Queen West Street West Street West
Queen Queen QueenStreet Street Street StreetEast East East East Queen Queen Queen Street Street East East
King King Street Street Street West KingStreet West King King Street West Street West West
FC FC
DW DW
Average Additional Rent
Parliament Parliament Parliament Street Street Parliament Parliament ParliamentStreet Street Street Street
536,794
Street Street Street Jarvis JarvisStreet Jarvis Street Jarvis Street Jarvis Jarvis
Net Absorption
Sherbourne Sherbourne Sherbourne Street Sherbourne Sherbourne SherbourneStreet Street Street
70,759,558
Yonge Yonge YongeStreet Street Street
70,608,774
Street Bay Bay Street Bay Street Street BayStreet Bay
Office Inventory*
Trend
Spadina Spadina Avenue Spadina Avenue Avenue Avenue Spadina Spadina SpadinaAvenue
Q1 2010
Street Bathurst Bathurst Street BathurstStreet Street Bathurst Street Bathurst
Q4 2009
$19.54
Don Don Don Valley Valley Valley Don Don Valley Don Parkway Parkw ValleyParkw Valley Parkw ay ay ay Parkw Parkw ay ay
MARKET INDICATORS
DE DE
West West West Street Street West FrontStreet Front Front Street Front Front Front
ssway ssway ssway Expressway Expre Expre ssway ssway ner ner ner Expre iner iner Expre Gardi er Expre er Gardi er Gardi Gard Gardiner Gard Gardin Gardin Gardin
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 567 office buildings surveyed in this market.
DS DS Lake Lake Lake Shore Lake Lake Shore Shore Bouleva Bouleva ShoreBouleva Shore Boulevard Boulev Boulev rd rd West rd West ard West ard West West West
AVAILABLE SUPPLY SPLIT
00
Sublease
Direct
Sublease as % of Total Available
8,000,000
50%
7,000,000
45%
0.5 0.5 kilometers kilometers
11
L AKE ONT AR IO
AVAILABLE SPACE OPTIONS Number of units on the market by size brackets
40%
Square Feet
6,000,000
35%
5,000,000
30%
4,000,000
25% 20%
3,000,000
15%
2,000,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
494
230
123
112
# of units**
4
1
RECENT TRANSACTIONS Q1 2010 TOP Office Lease Transactions by Size
5%
0
50k - 100k sf 100k sf +
** Counting smallest divisible units in existing buildings and buildings which are under construction.
10%
1,000,000
st st ttt East Ea Eas Eas Eas ayEa ay Quay ay ay 'sQu 's 's Qu Qu Qu n's n's een een een n's ee Quee ee Qu Qu Qu
Address
Suite
Sq. Ft.
Landlord
Tenant
125 Queens Quay E
500-600
65,000
TEDCO
Corus Entertainment Inc
500 King Street W
300
32,796
Allied Properties
CCAC
11,066
662 King Street West Inc.
Bronskill & Co., Inc.
0%
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
662 King Street W
Gross Rent
$70
LL
30,000,000
TOP Office Sale Transactions by Price $60
25,000,000
$61.52
Date
$43.80
$50
1/18/2010
$28.47 $30
15,000,000
$34.92
Sq. Ft.
Gross Rent $/Sq. Ft.
20,000,000 $40
10,000,000
3/11/2010 1/14/2010
Address 181 University Ave/150 York St 230 & 240 Richmond Street 156 Front Street West
Price
Vendor
Purchaser
Size
$/PSF
$211,500,000
Oxford Properties Group
Dundee REIT
655,120
$323
$28,000,000
IBI Group
OCAD
114,000
$246
IBI Group
The Cadillac Fairview
107,152
$215
$23,000,000
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
$20 5,000,000
$10 $-
Finance 34%
Class AAA Class A Class B Class C Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Data,Publishing, Broadcasting Services 12%
18 MONTH TREND Absorption
Asking Net Rent
Vacancy Rate
Manufacturing & Distribution 6%
10.0%
29
Professional Services 24%
Others 3%
9.0%
Public Service & Private Sector Services 21%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
8.0% 21
$21.15
7.0%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
5.6%
6.0%
18 York Street
Great West Life
650,000
PricewaterhouseCoopers
Q1 2011
15 York Street
Cadillac Fairview
207,000
N/A TBD
Q1 2010
17 13 5.0% 9
4.0%
5
3.0%
1 -3
2.0%
Q4 2008
Q1 2009
Q2 2009
-7
Q3 2009
Q4 2009
Q1 2010
1.0% 0.0%
Vacancy Rate
Net Rent $/sf. / Absorption (100,000's)
25
MARKET CHARACTERISTICS * Largest office market in the GTA with the lowest vacancy rate * GTA top annual rental rates are achieved in buildings located in this market * Market is in high demand by users looking for a prestige urban location and modern, stateof-the-art architecture * Limited parking, but great access to public transit and the PATH system, Toronto's underground walkway * Proximity to multiple amenities and services add convenience for employees and customers * Submarket will benefit from the development of the Metrolinx transportation plan and
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Inc Brokerage. Brokerage
Our Knowledge is your Property速
Office Submarket Dashboard: Financial Core SUBMARKET INDICATORS
Q1-10
MAP OF SUBMARKET
Q4 2009
Q1 2010
Office Inventory*
33,628,966
33,612,730
Net Absorption
707,061
150,014
$24.86
Average Additional Rent
$25.59
$25.58
DW DW
FC FC King King Street Street King West West KingStreet King StreetWest Street West West West
Street Street Yonge Yonge Yonge Yonge Street Street YongeStreet Street
$25.69
Victoria Victoria Victoria Street Street Victoria Victoria VictoriaStreet Street Street Street
Average Asking Net Rent
Adelaide StreetWest West Street West Adelaide Adelaide AdelaideStreet
Street Street Bay Bay BayStreet Street Street Street Bay
7.2%
Number of units on the submarket by size brackets
West West Street Street Richmond Richmond Richmond West West West Street Street StreetWest Richmond Richmond Street Richmond
nue nue nue Ave Avenue Ave sity sityAve iver iver sity Un Univer Un ver ver versity Uni Uni Uni
6.7%
AVAILABLE SPACE OPTIONS
DN DN West StreetWest Queen QueenStreet West Street Queen West West Street Street Queen Queen
Street Street Simcoe Simcoe Simcoe Street Simcoe Street SimcoeStreet Street Simcoe
Vacancy Rate
Trend
DE DE
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 109 office buildings surveyed in this submarket.
AVAILABLE SUPPLY SPLIT Sublease
Street York Street York York Street Street Street YorkStreet York York
Direct
West West West Street Front Front Street Front Street West West StreetWest Front Front Street Front Street
Sublease as % of Total Available
5,000,000
20%
4,500,000
18%
4,000,000
16%
3,500,000
14%
3,000,000
12%
2,500,000
10%
DS DS 000
yy aaa ay w w w wa ssssw re re re resss ppp pre xxx xp E Ex E eee errrrr EE in ine in rdin ard rd aa aa G G Ga G
0.1 0.1 0.1 0.2 0.2 0.2 kilometers kilometers kilometers
# of units**
0 - 4k sf
160
4k - 10k sf
115
10k - 20k sf
85
20 - 50k sf
81
50k - 100k sf
1
100k sf +
0
** Counting smallest divisible units in existing buildings and buildings which are under construction.
Square Feet
RECENT TRANSACTIONS Q1 2010 TOP Office Lease Transactions by Size
2,000,000
8%
1,500,000
6%
1,000,000
4%
500,000
2%
Address
Suite
Sq. Ft.
Landlord
Tenant
60 Adelaide Street E
400
6,829
The Blackstone Group
Advanced Knowledge Networks Inc.
130 King Street W
640
5,557
Brookfield Properties Corporation
IBK
360 Bay St
700
5,556
The Blackstone Group
ORANO
TOP Office Sale Transactions by Price
0
0%
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
1/18/2010
181 University Ave/150 York St
$211,500,000 $ , ,
Oxford Properties p Group
Dundee REIT
655,120 ,
$323 $
Q1 2010
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
Gross Rent
Finance 49%
14,000,000 $70
$61.52 12,000,000
$52.89
$60
10,000,000
$40.23 8,000,000
$34.99
$40
6,000,000
$30 $20
4,000,000
$10
2,000,000
Sq. Ft.
Gross Rent $/Sq. Ft.
$50
Manufacturing & Distribution 5% Public Service & Data,Publishing, Others Private Sector 1% Broadcasting Services Services 10% 5%
-
$-
Class AAA Class A Class B Class C Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Asking Net Rent
Vacancy Rate
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
18 York Street
Great West Life
650,000
PricewaterhouseCoopers
Q1 2011
15 York Street
Cadillac Fairview
207,000
N/A TBD
Q1 2010
8.0%
7.2% 7.0% 6.0%
SUBMARKET CHARACTERISTICS 5.0%
$24.86
4.0% 3.0% 2.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Absorption
64 60 56 52 48 44 40 36 32 28 24 20 16 12 8 4 -4 -8
Professional Services 30%
* Most dense office submarket in the GTA with one of the lowest vacancy rates * GTA top annual rental rates are achieved in buildings located in this market * Majority of tenants occupy 4,000 sf or less * Prestige urban location and modern, state-of-the-art architecture * Limited parking, but great access to public transit and the PATH system, Toronto's underground walkway * Proximity to multiple amenities and services add convenience for employees and customers
1.0% Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010 0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. reliable We have no reason to doubt its accuracy but regret we cannot guarantee it. it All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Downtown North SUBMARKET INDICATORS
Q1-10
MAP OF SUBMARKET
Office Inventory*
14,762,711
14,762,711
Net Absorption
(193,089)
(46,748)
Vacancy Rate
2.2%
3.2%
Average Asking Net Rent
$15.32
$16.09
ttt aa aa assssssttt EEEa ee ettttttEEE ee ee ee trtr tre trtr SStr ooo orrrrSSS lo loo lo BB BB Blo B
YB YB
Trend
ee ee nnuue ve vennnu ve ve AAve w wA w ie ie iew ie yv yv aayv yv yvie B B B B B Baayv
Q1 2010
Queen's Queen's Queen's Park Park Crescent Crescent East East Queen's Queen's Queen'sPark Park Park ParkCrescent Crescent Crescent CrescentEast East East East
Q4 2009
Harbord Harbord Street Harbord Street Harbord Harbord Street Street Street
TE TE
East East Street Street Street East Wellesley WellesleyStreet Wellesley Street East East Street East Wellesley Wellesley
College College Street College Street College College Street Street Street
Don Don Valley Valley Valley DonValley Don Parkw Parkw Parkway Valley Parkw Valley ay ay ay Parkw Parkw ay ay
DN DN Gerrard Gerrard Gerrard Street Street West StreetWest Gerrard Gerrard Gerrard West Street Street West West
$19.10 BathurstStreet Bathurst Street Street Bathurst Bathurst Bathurst Street Street West Street West Street West Street Queen Queen Queen West Street Queen West Queen StreetWest QueenStreet
Sublease as % of Total Available
000
1,000,000
85%
900,000
75%
800,000
65%
Square Feet
700,000
0.5 0.5 0.5
111
DE DE
FC FC
kilometers kilometers kilometers kilometers kilometers kilometers
AVAILABLE SPACE OPTIONS Number of units on the submarket by size brackets
55%
600,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
73
16
10
13
0
0
45%
500,000
# of units** 35%
400,000
** Counting smallest divisible units in existing buildings and buildings which are under construction. 25%
300,000 200,000
15%
100,000
5%
RECENT TRANSACTIONS Q1 2010 TOP Office Lease Transactions by Size Address
0
Suite
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
2 Carlton St
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
Gross Rent
801
Landlord
2,004
Northam Realty Advisors Limited
EVA Airways Corp. Toronto Kiwanis Boys and Girls Club Logimonde Inc.
595 Parliament Street
203
1,505
Irpus Investments Limited
2 Carlton St
602
614
Northam Realty d so s Limited ted Advisors
$38
TOP Office Sale Transactions by Price 7,000,000
$37 $37.16
$35
5,000,000
$34 4,000,000
$33
Date
Address
1/28/2010
567 Queen Street West
6,000,000
$34.50
$31.46
$32
Price
Vendor
Purchaser
Size
$/PSF
$5,150,000
4032705 Canada Inc
Westac Roheneil Inc.
19,742
$261
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES Sq. Ft.
$36
Professional Services 14%
3,000,000
$31
Finance 29%
2,000,000
$30 1,000,000
$29 $28
Data,Publishing, Broadcasting Services 3%
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
15 MONTH TREND Asking Net Rent
Vacancy Rate
Address
25
3.5%
20
$16.09 3.2%
10 5
2.5%
2.0%
-
Q2 2009
-10
Q3 2009
Q4 2009
Q1 2010
1.5%
1.0%
-15 0.5%
Developer
Anchor Tenant
Sq. Ft.
Est. Com.
SUBMARKET CHARACTERISTICS
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Manufacturing & Others Distribution 2% 5%
No Construction took place during this period
3.0%
15
Q1 2009
Public Service & Private Sector Services 47%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Absorption
-5
Tenant
Sq. Ft.
-5%
Q4 2008
Gross Rent $/Sq. Ft.
Street Street Church Church Church Street Street Street Church Church ChurchStreet
Street Street Street Yonge Yonge YongeStreet Street Yonge Yonge Yonge
Street Bay Bay BayStreet Street Street Bay Bay Bay
Sublease
University Avenue Avenue UniversityAvenue University Avenue University
Direct
Avenue Spadina Spadina Spadina Avenue Avenue Avenue Spadina Spadina SpadinaAvenue
AVAILABLE SUPPLY SPLIT
ParliamentStreet Street Parliament Street Parliament Parliament Street Parliament Street
Dundas West Dundas Street Dundas StreetWest Street West Dundas Street West West
Sherbourne Sherbourne SherbourneStreet Street Street
$18.91
Jarvis Street Street Street JarvisStreet Jarvis Jarvis Street Street
Average Additional Rent
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 74 office buildings surveyed in this submarket.
* Offering all downtown location advantages but at lower rental prices than in the Financial Core * Great connections to public transit and road system makes this submarket accessible to employees and clients/customers. * Great proximity to an educated and productive labour force * With new residential high-rise development, residential development will increase and expand and diversify labour pool * Incorporates Toronto Discovery District a 2.5 square km research park with a highly concentrated mix of research, bio-medical companies, finance and business support services
-20 -25
0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. reliable We have no reason to doubt its accuracy but regret we cannot guarantee it. it All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Downtown East SUBMARKET INDICATORS
MAP OF SUBMARKET
3,957,849
3,270
(162,560)
Vacancy Rate
5.7%
6.3%
Average Asking Net Rent
$16.82
$16.96
Average Additional Rent
$10.39
Richmond Richmond Richmond Street Street East East Richmond Richmond Street Street East East RichmondStreet StreetEast East Adelaide Street East Adelaide AdelaideStreet Street StreetEast East East Adelaide Adelaide Street East Adelaide Street East
FC FC
King Street East King StreetEast East King Street Street East King King Street East Front Front FrontStreet Street Street StreetEast East East East Front Front Front Street Street East East
Lower Jarvis Lower LowerJarvis JarvisStreet Street Street Lower Street
Net Absorption
East Street StreetEast East Queen Queen Street East Queen Street Street Street Queen Queen
Queen Queen Queen Street Street East East Queen Queen QueenStreet Street Street StreetEast East East East
ParliamentStreet Street Parliament Parliament Street Parliament Street
4,013,849
DN DN
Trend
TE TE
y ayy waa rkw rk Paark yyyP lle lle lle lle lley aalle V Va V nn V oon D Do D D D D
Q1 2010
Street Street Church Church Church Street Street Street ChurchStreet Church Church
Q4 2009
Street Yonge Yonge Street YongeStreet Street Street Yonge Yonge
Office Inventory*
Q1-10
Avenue Avenue Eastern Avenue Eastern Eastern Avenue Avenue
DE DE
s Ea Ea Ea Eas Ea rdEa ard ard ard rd rd va va ev ev va ulev ul ul ule ule Boule Bo Bo eBo ee Bo Bo e e ore or or or or sh shor kesh ke ke ke ke La La Lake La La La
Gardiner Gardiner Expressway Expressway Gardiner Expressway Gardiner Gardiner Expressway Expressway
DS DS
$8.27
ttt st Eas Eas Eas st Ea ay ay East ay Qu ay Qu Qu ay Ea n's Qu n's Quay n's 's 's 's Qu ee ee ee Qu Qu een een Qu Qu Queen
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 107 office buildings surveyed in this submarket.
LAKE ONTARIO
AVAILABLE SUPPLY SPLIT Direct
Sublease
0 0 0
Sublease as % of Total Available
1 1 1
kilom kilometers eters
600,000
50% 45%
500,000 Square Feet
0.5 0.5 0.5
AVAILABLE SPACE OPTIONS
40%
Number of units on the submarket by size brackets
35%
400,000
30%
300,000
25%
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
79
30
6
9
0
1
# of units**
20%
200,000
15% 10%
100,000
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q1 2010
5%
0
TOP Office Lease Transactions by Size
0%
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
Gross Rent
$35
Address
Suite
Sq. Ft.
Landlord
Tenant
125 Queens Quay E
500-600
65,000
TEDCO
Corous Entertainment
53 Jarvis Street
200
4,873
King George Square Properties
MarketBridge
3,000,000
TOP Office Sale Transactions by Price $30
2,500,000
$31.00 $30.26
$25
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
n/a
n/a
n/a
n/a
n/a
n/a
n/a
$9.43
Gross Rent $/Sq. Ft.
$20
1,500,000
Sq. Ft.
2,000,000
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
$15 1,000,000
Data,Publishing, Broadcasting Services 30%
$10 500,000
$5
$-
Finance 9% Professional Services 27%
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Manufacturing & Distribution 10%
15 MONTH TREND Asking Net Rent
Vacancy Rate
Public Service & Private Sector Services 18%
$16.96 7.0%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE 6.3%
6.0%
5.0%
4.0%
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
3.0%
2.0%
1.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Absorption
20 18 16 14 12 10 8 6 4 2 -2 -4 -6 -8 -10 -12 -14 -16 -18 -20
Others 6%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
125 Queen's Quay East
Aecon
550,000
TEDCO, Corus
Q1 2010
SUBMARKET CHARACTERISTICS * Includes original 10 blocks of Toronto and historic buildings allow for remarkable office space features (Brick&Beam) * Northern part of submarket well connected to downtown & rest of the GTA through public transportation and Gardiner Expressway & Don Valley Parkway * With new residential high-rise developments (e.g. Corktown, Distillery District), the labour pool will increase, expand and diversify * George Brown College's third main Toronto campus will support growth of up to 4,000 new students per year and energize the new East Bay lakefront development by Fall 2011
0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as available. more accurate information becomes available
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Downtown South SUBMARKET INDICATORS
Q1-10
MAP OF SUBMARKET Trend
(24,478)
(47,870)
Vacancy Rate
13.0%
3.5%
Average Asking Net Rent
$21.89
$15.00
Average Additional Rent
$20.53
$13.40
FC FC
asttttt as as Eas E E et etE et et et treet tre S tre Stre S onttttS on on on Fr Fron Fr Fr
Front Street West Street West Front Front Street West Street West Front Front FrontStreet StreetWest West
Lower Lower SimcoeStreet Simcoe Lower Street Street Street Simcoe Lower Lower Simcoe Simcoe Street Street
B B Bre B re rem re m mnnn m ne eeerrrrB B Bo B ooou uuule le levvvvaaa le aaard rd rd rd
DS DS
Gardiner Gardiner Gardiner Expressway Expressway Expressway Gardiner Gardiner Expressway Gardiner Expressway Expressway
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 15 office buildings surveyed in this submarket.
Street Street Church Church Church Street Street Street Church ChurchStreet Church
Net Absorption
DW DW
Yonge Yonge Yonge Street Street Yonge Yonge YongeStreet Street Street Street
2,653,851
Bay Bay Street Bay Street Street Street Street Bay BayStreet Bay
2,430,831
York York Street York Street Street Street Street York York YorkStreet
Office Inventory*
Avenue Avenue University Avenue Avenue Avenue UniversityAvenue University University
Q1 2010
Avenue Avenue Avenue Spadina SpadinaAvenue Spadina Avenue Avenue Spadina Spadina Spadina
Q4 2009
eettt ee eet eet eet Str Str ur ur Stree Str ur urStr rbo rbo rbo Ha rbour Ha Ha Harbo
st st East st st Ea ay Ea Ea Ea ay Quay ay ay Qu 's Qu Qu Qu 's 's 's een een's Queen een Qu Qu Qu Qu
West Quay Queen's Queen's West Quay Quay West Queen's West QuayWest Queen'sQuay Queen's Quay West Queen's
AVAILABLE SUPPLY SPLIT Direct
Sublease
Sublease as % of Total Available
00
0.25 0.25
450,000 50%
0.5 0.5
LAKE ON TARIO
kilometers kilometers
60%
500,000
AVAILABLE SPACE OPTIONS
400,000
Number of units on the submarket by size brackets 40%
350,000 Square Feet
300,000
30%
250,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
10
12
4
17
0
0
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction. 20%
200,000
RECENT TRANSACTIONS Q1 2010
150,000
10%
100,000 0%
TOP Office Lease Transactions by Size Address
Suite
Sq. Ft.
Tenant
Landlord
50,000
No transactions were recorded during this period. 0
-10% Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
TOP Office Sale Transactions by Price
Q1 2010 Date
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
1,200,000
$50
$20
400,000
$10
200,000
$-
$-
$-
Sq. Ft.
Gross Rent $/Sq. Ft.
600,000
$28.40
Purchaser h
Size i
$/PSF $/
Data,Publishing, Broadcasting Services 43%
800,000
$30
Vendor d
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
1,000,000
$40
Price i
No transactions were recorded during this period.
Gross Rent
$60
Address dd
Finance 13%
Manufacturing & Distribution 15%
-
Class A Class B Class C Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Professional Services 18%
Others Public Service & 2% Private Sector Services 9%
18 MONTH TREND Asking Net Rent
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Vacancy Rate
16.0%
25
14.0%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
12.0%
20
$15.00
SUBMARKET CHARACTERISTICS
10.0%
15 8.0%
10 6.0%
5 3.5% -
4.0% 2.0%
Q4 2008
Q1 2009
Q2 2009
-5
Q3 2009
Q4 2009
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Absorption
30
* Offering many downtown location advantages but at lower rental prices than in the Financial Core along the city's waters' edge * Good connections to public transit and easy access to Gardiner Expressway & DVP makes this submarket accessible to employees and customers. * Submarket is part of the Waterfront Revitalization project will continue to change the area into a more urban community in the years to come * With new residential high-rise development (e.g. Pier/Quay West), the labour pool will increase, expand and diversify
Q1 2010 0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time available. as more accurate information becomes available
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Downtown West SUBMARKET INDICATORS
Q1-10
MAP OF SUBMARKET
Office Inventory*
14,489,228
14,489,228
Net Absorption
45,307
(28,539)
Vacancy Rate
4.8%
4.7%
Average Asking Net Rent
$17.91
$18.04
Average Additional Rent
$13.67
$13.36
Trend
TW TW
Street Bathurst Bathurst Bathurst Street Street Bathurst Street Bathurst BathurstStreet
Dufferin Dufferin Street Street Dufferin Street Dufferin DufferinStreet Street
Queen Queen Street Queen StreetWest Street Queen West West Street West
King KingStreet Street King West StreetWest West King King Street West West
Richmond Richmond Richmond Street West Street West West Richmond Richmond Street Richmond Street West
DN DN
ue ue ue Aven Aven Aven ee ersity ersity ersity Avenu Avenu Univ Univ Univ rsityAvenu rsity rsity Unive Unive Unive
Q1 2010
Avenue adina Avenue padina padina Avenue adina Avenue
Q4 2009
Adelaide Adelaide Adelaide Street Street West Street West West West Adelaide AdelaideStreet Adelaide Street Street West West
DW DW
FC FC
West West West Street Street West Street Front Front Front Street West Front Front Front Street
y yy yy ssway sswa sswa Expresswa Expre Expre sswa sswa iner iner Expre Expre Gard Gard Gard iner Expre iner Gardiner Gard Gard
DS DS
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 217 office buildings surveyed in this submarket.
Lak Lak Lak Lak Lak ee Lake Sh Sh Sh ee e Sh ore ore ore Sh Shore ore Bo oreBo Bo Bo ule ule Boule ulev ulev ulev var var var ard ard dddWe ard We We We st st West st st
AVAILABLE SUPPLY SPLIT
00
Direct
Sublease
West QuayWest West Quay Queen's West West Queen'sQuay Quay Quay Queen's Queen's Queen's
0.5 0.5
L AKE ON TAR IO
11
kilometers kilometers
Sublease as % of Total Available
60%
1,600,000 50%
AVAILABLE SPACE OPTIONS
Square Feet
1,400,000
Number of units on the submarket by size brackets 40%
1,200,000 1,000,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
164
64
20
9
3
0
30%
800,000
20%
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
600,000 10%
400,000 0%
200,000
RECENT TRANSACTIONS Q1 2010 TOP Office Lease Transactions by Size
0
-10%
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
GROSS RENT & AVAILABILITY BY BUILDING CLASS Not Avail. Office Space
Avail. Office Space
Address
Suite
Sq. Ft.
Landlord
Tenant
500 King Street W
300
32,796
Allied Properties
CCAC Bronskill & Co., Inc. 0
Q1 2010
Gross Rent
$35
662 King Street W
LL
11,066
662 King Street West Inc.
469 King Street W
100
9,000
0
9,000,000 $32.47
8,000,000
TOP Office Sale Transactions by Price
$30 $31.69 7,000,000
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
$25 6,000,000 5,000,000
$15
4,000,000
No transactions were recorded during this period. Sq. Ft.
Gross Rent $/Sq. Ft.
$25.01 $20
3,000,000
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES Finance 20% Professional Services 25%
Data,Publishing, Broadcasting Services 24%
$10 2,000,000 $5 1,000,000 $-
Class A
Class B
Manufacturing & Distribution Others 2% 8%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND
Public Service & Private Sector Services 21%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Absorption
Asking Net Rent
Address
Vacancy Rate
10.0%
25
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
23 9.0%
SUBMARKET CHARACTERISTICS
$18.04
19
8.0%
17 7.0%
15 13
6.0%
11 9
5.0%
7
4.7%
5 3
4.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
21
* Offering all downtown location advantages but at lower rental prices than in the Financial Core - excellent options for those tenants whose operations do not require a core location * Good connections to public transit (streetcars along King St W and Queen St W) and easy access to Gardiner Expressway makes this submarket accessible to employees and customers. * With new residential high-rise development (e.g. Concord's CityPlace), the labour pool will increase, expand and diversify * Significant amount of former factory buildings have been converted into office buildings hosting information industry, art and design workspaces - aka Brick & Beam office space
3.0%
1 -1
2.0% Q4 2008
Q1 2009
Q2 2009
-3
Q3 2009
Q4 2009
Q1 2010 1.0%
-5 -7
0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
COLLIERS INTERNATIONAL
MIDTOWN MARKET AND SUBMARKET BOUNDARIES
LEGEND
401 401 Highway 401 Highway 401 Highway 401 Highway Highway
Highway
Lawrence Avenue West Lawrence Lawrence Avenue Avenue West Lawrence Avenue Avenue West West West
nn nn n Mi Do Don Do Mi Mills lls lls Ro Ro Road Mi Mi Mi ad ad lls lls Ro Ro ad ad
Le Lesli Le sli slie Le Le ee ee eSt sli St St Stre sli et et et reet re St St et et
Allen Road Allen Allen Road Road Road Allen Allen Allen Road
Main Road GO Transit Submarket Boundary
Y Y Y on on ge ge Yon Y Y onge on on St geSt ge ge re St re et et Stre St reet re et et et
YS YS
Davenport Davenport Davenport Road Road Road Road Davenport Davenport Davenport Road
East East Avenue Avenue Eglinton Eglinton Eglinton Avenue East East East Avenue Avenue Avenue East Eglinton Eglinton Drive Drive Drive Laird Laird Laird Drive Drive Drive Laird Laird Laird
West West West Avenue Avenue Avenue West Clair Clair Avenue Clair St. St. St. Clair West West Avenue Avenue Clair Clair St. St. St.
Mount Mount Mount Pleasant Road Pleasant Road Mount Mount Mount Pleasant Pleasant Pleasant Road Road Road
Bathurst Bathurst Bathurst Street Street Street Street Bathurst Bathurst Bathurst Street Street
Avenue Avenue Avenue Road Road Avenue Avenue Avenue Road Road Road
Eglinton Avenue West Eglinton Avenue Eglinton Avenue West Eglinton Avenue Avenue West West West
Bayview Avenue Avenue Avenue Bayview Avenue Bayview Bayview Avenue Avenue
YE YE
Prepared By: Colliers International Research Department
aaayyyyyy w ww waa ww aaaaarrrrrkkkkk P P P eyyyyPP allllllellee V VVVaaa oooonnnn D D D D
Street Dupont Street Dupont Dupont Street Street Dupont
YB YB Bloor Bloor Bloor Street Street Street West West West Bloor Street Bloor Bloor Street West Street West West
0 000 0
3 333 3
1.5 1.5 1.5 1.5 1.5
kilometers kilometers
Our Knowledge is your Property 速 Colliers Macaulay Nicolls (Ontario) Inc., Brokerage and certain of its subsidiaries, is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies with over 240 offices throughout more than 50 countries worldwide. This document has been prepared by Colliers International for advertising and general information only. Colliers International does not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.
Office Market Dashboard: GTA Midtown
Q1-10
MARKET INDICATORS
Vacancy Rate
4.8%
4.7%
Average Asking Net Rent
$16.23
$16.00
Average Additional Rent
$18.94
$18.94
Bat Bat Bat Bath Bath hurs Bath hurs hurs ttStre urst Stre Stre urst Stre et et et Street et et
5,866
Road Avenue Road Avenue Avenue Road AvenueRoad Road Avenue Road Avenue
(415,303)
AVAILABLE SPACE OPTIONS Avenue West West Avenue AvenueWest West Lawrence Lawrence Lawrence Avenue West Lawrence Lawrence Avenue West LawrenceAvenue
YE YE
Bayvi Bayvi Bayvi ewAven ew Aven Aven Bayview Bayv Bayv ew Aven ue ue iew Avenue ue ue
17,593,123
Yong Yo Yo ngeee Yo ng eSt ng St Stree Str Str Str ree ree ee ee eetttttt
17,542,568
Net Absorption
Trend
Mount Mount MountPleasant Pleasant Pleasant PleasantRoad Road Road Road Mount Mount Mount Pleasant Pleasant Road Road
Q1 2010
Allen Allen Allen Road Road Allen Road Allen Allen Road Road Road
Office Inventory*
MAP OF MARKET Q4 2009
West AvenueWest Eglinton Avenue West Eglinton Avenue Eglinton West West West EglintonAvenue Avenue Eglinton Eglinton Avenue
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 169 office buildings surveyed in this market. St. St.Clair St. Clair Clair Avenue Clair Avenue Avenue AvenueWest West West West St. St. St. Clair Clair Avenue Avenue West West
Sublease
Direct
Sublease as % of Total Available
1,600,000
50% 45%
Dupont Dupont Street Street Street DupontStreet Dupont Dupont Dupont Street Street
YB YB Bloor Street Bloor Street West Street West West Bloor Street West Bloor Bloor Street West
1,200,000 Square Feet
35%
1,000,000
30%
800,000
25%
Bay Street Street BayStreet Bay Street Bay
Spadina Spadina Aven Spadina Avenu Spadina SpadinaAvenu Avenu Aven
40%
Street Church Street Church Church Street ChurchStreet Street Street Church Church
1,400,000
Christie Christie ChristieStreet Street Street Street Christie Christie Christie Street Street
Davenport Davenport Davenport Road Road Davenport Davenport DavenportRoad Road Road Road
# of units**
0 - 4k sf
210
4k - 10k sf
47
10k - 20k sf
44
20 - 50k sf
6
50k - 100k sf
1
100k sf +
0
** Counting smallest divisible units in existing buildings and buildings under construction.
RECENT TRANSACTIONS Q1 2010 TOP Office Lease Transactions by Size
20%
600,000
D Dooo D D D oonn nV nn V Vaaa V V aalllllllllle eyyyyy ee ee P P Pa P aa arrrrkkkkw w wa w aa ayyyy
YS YS
AVAILABLE SUPPLY SPLIT
Number of units on the market by size brackets
15%
Address
10%
1920 Yonge Street
Suite
Sq. Ft.
Landlord
Tenant
Aker Kvaerner E+C
Public Mobile
400,000 200,000
401
19,881
5%
TOP Office Sale Transactions by Price 0
0%
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Date
Q1 2010
Address
Not Avail. Office Space
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during g this p period
GROSS RENT & AVAILABILITY BY BUILDING CLASS CLASS Avail. Office Space
Price
Gross Rent
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
$45 12,000,000 $40
$33.58
$30
Gross Rent $/Sq. Ft.
Finance 23%
10,000,000
$38.78
Professional Services 22%
8,000,000
$29.51
$25
6,000,000
$20 $15
Sq. Ft.
$35
Manufacturing & Distribution 10%
4,000,000
$10 2,000,000 $5 $-
Data,Publishing, Broadcasting Services 14%
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
15 MONTH TREND
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Asking Net Rent
Address
Vacancy Rate
9.0%
$16.00
Q2 2009
Q3 2009
Q4 2009
Q1 2010
Anchor Tenant
Est. Com.
MARKET CHARACTERISTICS
6.0% 5.0%
4.7%
Sq. Ft.
No construction occurred during this period
7.0% Q1 2009
Developer
8.0%
4.0% 3.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Absorption
18 14 10 6 2 -2 -6 -10 -14 -18 -22 -26 -30 -34 -38 -42 -46 -50
Public Service & Private Sector Services 29%
Others 2%
* Well established office market in a continuously densifying urban area consitsting of three office submarkets: Yonge-Bloor, Yonge-St.Clair and Yonge-Eglinton * Lower real estate costs than in Downtown Toronto * Vacancy rates are fairly stable at a low value as this market is in high demand by companies looking to locate in this well located office market * Great access to public transit and highly educated labour force * Abundance of amenities are in walking distance in all three submarkets
2.0% 1.0% 0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Yonge & Bloor MAP OF SUBMARKET Q1 2010
Office Inventory*
9,713,112
9,763,667
Net Absorption
(361,618)
13,846
Vacancy Rate
4.0%
3.7%
Average Asking Net Rent
$16.94
$16.45
Average Additional Rent
$19.41
$19.52
Trend
Bro BB roa ro ro ro aaadd ddvv vvie ie iew w wAA vvvveee ennn ueee nuuu e
Donnn Do Do nVa Do Valley Va lley Pa lley lley lley lley Parkw Pa rkway rkw ay ay
TE TE
Danforth Danforth DanforthAvenue Avenue Avenue Danforth Danforth Avenue Avenue
eee uuueee nnu ee vve ee enn AA Avv wwA ie ie ie ie ieww yyvvvie aa aayyyvvv BBBa B
Parliament Parliament Street Street ParliamentStreet Street Street Parliament Parliament
Street Street Street Sherbourne Sherbourne Sherbourne Street Street Sherbourne SherbourneStreet Sherbourne
Street JarvisStreet Jarvis Street Jarvis Street Jarvis Street Jarvis Street Jarvis
Church Church Street Church Street Church Street Church Street ChurchStreet Street
Street Bay Bay Street Bay Street Street Bay BayStreet
11
kilometers kilometers
65%
Yonge Yonge YongeStreet Street Street Street Yonge Yonge Yonge Street Street
0.5 0.5
ParkCrs Queen'sPark E Crs Park Queen's Park Queen's E Crs CrsE E Park Queen's E Crs Park Queen's Queen's
Spadina Spadina SpadinaAvenue Avenue Avenue Avenue Spadina Spadina Spadina Avenue Avenue
Street Bathurst Street Bathurst Street Bathurst Street BathurstStreet Bathurst
Bloor Bloor Street StreetWest West Bloor Street West Bloor Street West
00
Sublease as % of Total Available
YB YB
Davenport Road Road Davenport DavenportRoad Davenport Road Road Road
TW TW
AVAILABLE SUPPLY SPLIT Sublease
YS YS
Dupont Dupont Street DupontStreet Street Dupont Street Dupont Street Dupont Street
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 74 office buildings surveyed in this submarket.
Direct
DO DO
Road Avenue Road AvenueRoad Avenue
Q4 2009
MountPleasant Mount Pleasant PleasantRoad Mount Road Road Mount
SUBMARKET INDICATORS
Q1-10
DN DN
Square Feet
900,000 800,000
55%
700,000
45%
AVAILABLE SPACE OPTIONS Number of units on the submarket by size brackets
600,000 35%
500,000
25%
400,000 300,000
0
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
82
30
14
5
0
0
# of units**
15%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
5%
RECENT TRANSACTIONS Q1 2010
200,000 100,000
0 - 4k sf
TOP Office Lease Transactions by Size
-5%
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
Address
Not Avail. Office Space
Sq. Ft.
Tenant
Landlord
No transactions took place during this period.
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Suite
TOP Office Sale Transactions by Price
Gross Rent
$45
6,000,000
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
$40
$41.25
5,000,000
$36.57
$35 $30
4,000,000
66 Gloucester 2/8/2010 Street
$25 3,000,000 $20 $15
3,050
$356
Finance 31%
2,000,000
$10 1,000,000
$-
-
Class A Class B Class C Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Manufacturing & Distribution 6%
15 MONTH TREND Absorption
Asking Net Rent
Professional Services 20%
Data,Publishing, Broadcasting Services 20%
$5
Vacancy Rate
Public Service & Private Sector Services 22%
Others 1%
9.0%
20
$16.45 10
8.0%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE 7.0%
Address
6.0%
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
5.0%
-10 4.0% -20
3.7%
3.0% 2.0%
-30
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period. Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
An individual(s) acting in his/her $1,085,000 own capacity Marlings Invest Inc.
Sq. Ft.
Gross Rent $/Sq. Ft.
$30.82
SUBMARKET CHARACTERISTICS * Largest Midtown office submarket in terms of total inventory and occupied space * Highest real estate costs on average in Midtown market but still less than the core * Multiple residential condominium developments will increase and diversify labour force * Limited parking, but great access to public transit and the northern part of the PATH system, Toronto's underground walkway * Proximity to multiple amenities add convenience for employees and customers
1.0% -40
0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Yonge & St. Clair SUBMARKET INDICATORS
Q1-10
MAP OF SUBMARKET YE YE
Trend
3,045,423
3,045,423
Net Absorption
(54,006)
997
Vacancy Rate
4.1%
4.2%
Average Asking Net Rent
$17.03
$16.77
Average Additional Rent
$19.41
$19.43
Street Street BathurstStreet Bathurst Bathurst Bathurst Bathurst Bathurst Street Street Street
Office Inventory*
Avenue Avenue Road Road Road Road Avenue Avenue Avenue Road Road
Lonsdale Road Lonsdale Lonsdale Road Road Road Lonsdale Lonsdale Lonsdale Road Road
TW TW
DDoooo nn VVaaaa lllleeeey y PP aarrkk w w ww aayy
DupontStreet Dupont Dupont Street Street Street Street Dupont Street Dupont Dupont
00
0.5 0.5
AVAILABLE SUPPLY SPLIT
11
YB YB
kilometers kilometers
Sublease as % of Total Available
AVAILABLE SPACE OPTIONS
300,000
75%
Number of units on the submarket by size brackets
65%
250,000
55%
200,000
Square Feet
Yonge YongeStreet Street Street Street Yonge Yonge Yonge Street Street
D D D av av D Dav av aven en en en enpo po po po port Roa R rtrtrt rtR R oa oaddd R oa oa
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 38 office buildings surveyed in this submarket.
Direct
DO DO
St. St. St.Clair Clair Clair ClairAvenue Avenue AvenueWest West West Avenue West St. St. St. Clair Clair Avenue West
YS YS
Sublease
Avenue Avenue Avenue Bayview Bayview Bayview Avenue Avenue Bayview Avenue Bayview Bayview
Q1 2010
Pleasant Road Road Pleasant PleasantRoad Road M ount Pleasant Mount Mount Mount M Road Pleasant ount Pleasant Mount Road
Q4 2009
45%
150,000 100,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
30
8
6
1
0
0
# of units**
35%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
25%
RECENT TRANSACTIONS Q1 2010
15%
50,000
TOP Office Lease Transactions by Size
5%
Address 0
Suite
Sq. Ft.
Landlord
Tenant
-5%
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
No transactions took place during this period.
Q1 2010
TOP Office Sale Transactions by Price
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
Date
Gross Rent
2,000,000
$45
$32.90
$40
Vendor
Purchaser
Size
$/PSF
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
1,600,000
$35
Price
No took N transactions i k place l d during i this hi period. i d
1,800,000
$41.39
Address
1,400,000
$30
1,000,000 $20
Sq. Ft.
Gross Rent $/Sq. Ft.
1,200,000 $25
800,000 $15
600,000
$10
400,000
$5
200,000
$-
-
Manufacturing & Distribution 10%
Class A Class B Class C Note: Not available office space (blue) and available office space (yellow) add up to the total $inventory of office space in the respective building class.
Data,Publishing, Broadcasting Services 8%
18 MONTH TREND Absorption
Asking Net Rent
Public Service & Private Sector Services 41%
Others 2%
Vacancy Rate
20
9.0%
15
$16.77
7.0%
4.2%
5.0%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Address
Developer
Anchor Tenant
Sq. Ft.
Est. Com.
No construction took place during this period.
10 3.0% 5 1.0% Q4 2008
Q1 2009
Q2 2009
-5
-10
Q3 2009
Q4 2009
Q1 2010
-1.0%
-3.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Professional Services 24%
Finance 15%
SUBMARKET CHARACTERISTICS * Smallest office submarket of the Midtown office market * Due to small total inventory submarket usually doesn’t have many space options available * Vacancy Rate remains below the 9% threshold and Rental costs are fairly stable due to this fact * Great access to public transit and proximity to local labour force * Most buildings in this submarket have been built between 1960-1990 with some of them being renovated in the 1990s
-5.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property®
Office Submarket Dashboard: Yonge & Eglinton SUBMARKET INDICATORS
Q1-10
MAP OF SUBMARKET
Q4 2009
Q1 2010
Office Inventory*
4,784,033
4,784,033
Net Absorption
321
(8,977)
Vacancy Rate
6.9%
7.0%
Average Asking Net Rent
$15.10
$15.13
Average Additional Rent
$18.23
$18.10
Trend
NY NY
11 11 1 4440001 yyyyyy444 w w w waaa w hhhw ig ig ig ighhh ig H H H H H Hig
AVAILABLE SPACE OPTIONS
Brooke Brooke Avenue Avenue Avenue Brooke Avenue Avenue Brooke Brooke Avenue
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 57 office buildings surveyed in this submarket.
Mount Pleasant MountPleasant Mount Road PleasantRoad Pleasant Mount Road Road
Avenue AvenueRoad Road Road Avenue Road Avenue Avenue Road
YE YE
Yo Yo Yo Yon Yon nge nge nge Yon ge ge geStr Str Str Stre Stre eet Stre eet Str Str Street et et et eet eet eet
Bat Bat Bathur hur Bat hur hurst st st Stre stStr Stre et Street Str et et eet eet
Lawrence Lawrence Lawrence AvenueWest Avenue Avenue West West West Lawrence LawrenceAvenue Lawrence Avenue Avenue West West
YD YD
Sublease
Sublease as % of Total Available
60%
500,000
50% 40%
Square Feet
TW TW Lonsdale Lonsdale Road Lonsdale Road Road Road Lonsdale Lonsdale Lonsdale Road Road
00
0.5 0.5 11 kilometers kilometers
98
4k - 10k sf
9
10k - 20k sf
24
20 - 50k sf
0
50k - 100k sf
1
100k sf +
0
** Counting smallest divisible units in existing buildings and buildings under construction.
YS YS
St. St. St.Clair Clair Clair ClairAvenue Avenue AvenueWest West West Avenue West St. St. St. Clair Clair Avenue West
0 - 4k sf
E E E E E E
Bayview Bayview Bayview Avenue Avenue Bayview Bayview BayviewAvenue Avenue Avenue
AVAILABLE SUPPLY SPLIT Direct
# of units**
DO DO
Avenue Eglinton Avenue Eglinton West West Eglinton AvenueWest EglintonAvenue Avenue Avenue Eglinton West West West
600,000
Number of units on the submarket by size brackets
YB YB
400,000 30%
RECENT TRANSACTIONS Q1 2010
300,000
TOP Office Lease Transactions by Size
20%
200,000 10%
100,000
0%
0
Address
Suite
Sq. Ft.
Landlord
Tenant
1920 Yonge St
401
19,881
Aker Kvaerner EC
Public Mobile
TOP Office Sale Transactions by Price
-10%
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Date
Q1 2010
Address
Not Avail. Office Space
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period
GROSS RENT & AVAILABILITY BY BUILDING CLASS CLASS Avail. Office Space
Price
Gross Rent
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
2,500,000
$40 $35
$36.25
$31.47
2,000,000
Professional Services 27%
$30 1,500,000
$24.81 $20 1,000,000
$15
Finance 13%
Sq. Ft.
Gross Rent $/Sq. Ft.
$25
Manufacturing & Distribution 16%
$10 500,000 $5
Data,Publishing, Broadcasting Services 8%
-
$Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Public Service & Private Sector Services 33%
Others 3%
18 MONTH TREND Absorption
Asking Net Rent
Vacancy Rate
$15.13 15
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
9.0%
7 5.0% 3 3.0% -1
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
7.0%
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010 1.0%
-5
-9
-13
-1.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Address 7.0%
11
SUBMARKET CHARACTERISTICS * Lively urban area with a great mix of uses with lower real estate costs than in the core. * Several recent residential densification projects e.g. Minto Towers on Yonge Street will re-enforce great proximity to diversified labour pool. * Easy access to public transit (subway and buses). * Multiple amenities and services add convenience for employees and customers. * Node has been identified as an “Urban Growth Centre” by the Provincial Government’s Growth Plan for the Greater Golden Horseshoe - activities along those lines will re-energize this area so it will remain a vibrant and successful area of the city.
-3.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property®
COLLIERS INTERNATIONAL
GTA NORTH MARKET AND SUBMARKET BOUNDARIES
LEGEND
West West West Drive Drive Drive Davis Davis Davis Drive West West Drive West Drive Davis Davis
Highway 9 Highway Highway 9 99 99 Highway Highway Highway
Highway
NE N EW WM MA AR RK KE E TT
Main Road GO Transit Submarket Boundary Municipal Boundary
RH RH
R II C R CH HM MO ON ND D H H II LL LL
CO CO
407 407 Highway Highway Highway 407 407 407 Highway 407 Highway Highway
Highw Highw Highw ay ay 427 427 Highw Highw Highway ay ay ay 427 427 427 427
Finch Avenue Finch Avenue West Avenue West West Finch Finch Finch Avenue Avenue Avenue DF DF Finch West West West TT O OR RO ON N TT O O NY NY
KH KH
10 10 44 44 4000111 aaa ayyyyy 4 w wa w w ig ig ighhhw H Hig ig ig H H H
YD YD
Eglinton Eglinton Eglinton Avenue Avenue Avenue West West West Avenue West Eglinton Eglinton Eglinton Avenue West
HB HB
Don on Va D D on D Valle on Va Va lleyyyyyy P lle Par P arkw ar kway kw ay ay
West Avenue West Sheppar Avenue West West Sheppard Sheppar Avenue West Avenue d Avenue ddd Sheppar
B B B ay ay vi vi vi B B Bay ew ew ew ay ay ayvi vi view A A A ew ew A ve ve ve nu nu nu A Ave ve venu ee nu nue ee e
55 kilometers kilometers
Prepared By: Colliers International Research Department
West West Avenue Avenue Steeles Steeles Steeles Avenue West West West Avenue Avenue West Avenue Steeles Steeles Steeles
11100000 yy44411 w waaaaaayyy w igigghhhhhhww H H H Hiigig H H
00
ig ig ighw H H Hig hw hway hw ig ig ay ay 48 hw ay 48 48 ay 48 48
Hi Hi Hi gh gh wa wa High Hi Hi ghwa gh gh 40 40 wayyyyyy 40 wa wa 404 40 40 4 44 44
eele ee ee Kee K K le S le ee ee le Stre S S le treet tre tre S S et tre tre et et
Rutherford Rutherford Rutherford Road Road Road Rutherford Rutherford Rutherford Road Road Road
MARKHAM
Road Road Brock Brock Brock Road
WB WB
B B B at at at hu hu hu B Bat B at athu rs rs rs hu hurs S S S rs rstttttt S tre tre tre S Stre et et et tre treet et et
VAUGHAN H H H ig ig hw hw Hig H H ighw ig ig ay ay hway hw hw 40 40 ay 40 ay ay 400 40 40 0 00 00
H Hig ig ighw H ig H H hw hway ig ay ay ay 27 27 27 ay ay 27 27
King King Road King Road King Road King Road Road
B B Bay ay ay ayvi vi vi view B B B ew ew ew A ay ay vi vi A A Ave ew ew ve ve venu nu nuee A A ve ve ee e nu nu
AU A UR RO OR RA A
Highway Highway Highway 401 401 Highway Highway Highway 401 401 401
YS YS
Our Knowledge is your Property 速 Colliers Macaulay Nicolls (Ontario) Inc., Brokerage and certain of its subsidiaries, is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies with over 240 offices throughout more than 50 countries worldwide. This document has been prepared by Colliers International for advertising and general information only. Colliers International does not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.
Office Market Dashboard: GTA North
Q1-10
MARKET INDICATORS Q1 2010
15,276,085
15,358,585
Drive Drive Davis Davis Drive Drive Davis Drive Davis Davis
Trend
Vacancy Rate
4.2%
4.7%
Average Asking Net Rent
$17.73
$17.12
Average Additional Rent
$17.10
$16.19
WB WB
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 198 office buildings surveyed in this market.
Major Mackenzie Major Major MackenzieDrive Mackenzie Mackenzie Drive Major Major West Major Mackenzie DriveWest Mackenzie West Drive West
RutherfordRoad Rutherford Rutherford Road Road Rutherford Rutherford Road
# of units**
0 - 4k sf
83
4k - 10k sf
29
10k - 20k sf
17
20 - 50k sf
13
50k - 100k sf
0
100k sf +
3
Steeles SteelesAvenue AvenueWest West Steeles Avenue West Steeles Steeles Avenue Avenue West West
Sublease
Direct
Sublease as % of Total Available
50% 45%
1,200,000
40%
1,000,000
35%
800,000
30%
0 0 0
DF DF
7 77 427 42 ay 42 ay 42 hway hw ay Highw Hig Hig hw Hig Hig Hig
1,400,000
NY NY
Highway Highway Highway 401 401 401 401 Highway Highway Highway 401
4 4 4 kilometers kilometers kilometers
88 8
KH KH
** Counting smallest divisible units in existing buildings and buildings under construction.
West Avenue West Avenue Eglinton Eglinton EglintonAvenue West West West Avenue AvenueWest Eglinton Avenue Eglinton
25%
600,000
20%
400,000
15%
RECENT TRANSACTIONS Q1 2010 TOP Office Lease Transactions by Size
10%
200,000
5%
0
Address
Suite
Q1 2009
Q2 2009
Q3 2009
Q4 2009
4100 Yonge St
Q1 2010
507
Landlord
Tenant
1,774
Ontario Teachers Pension Plan Board
BBS Securities Inc.
TOP Office Sale Transactions by Price
GROSS RENT & AVAILABILITY BY BUILDING CLASS Not Avail. Office Space
Avail. Office Space
Gross Rent
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
3/1/2010
110 Sheppard Avenue East
$22,000,000
H & R REIT
SSQ Financial Group
157,000
$140.00
9,000,000
$36.91
$35
8,000,000
$30 95 $30.95
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
7,000,000
$30
6,000,000
$25
5,000,000 $20 4,000,000 $15
$17.01
Data,Publishing, Broadcasting Services 3%
Sq. Ft.
$40
Sq. Ft.
0%
Q4 2008
Gross Rent $/Sq. Ft.
CO CO
Highway Highway Highway 407 407 407
AVAILABLE SUPPLY SPLIT
Square Feet
Duf Duf Duf ferin ferin ferin Dufferi feri ferin Str nnStr Str eet Street eet eet
Hig Highwa Hig hway hwa hwa Hig yyy27 hwa hwa 27 27 27
Road Road King King Road King Road KingRoad King
Number of units on the regional market by size brackets
Hig Hig Hig hw Hig Hig Highw ay hw hway 404 404 ay ay404 404 404 404
(112,386)
Yonge Yon Yon geStre ge Yon Yon Yon Stre ge ge ge Street et Stre et et
50,840
Bay Bay Bay Ba view vie vie Ba Ba yvie wAve w yvie yvie Ave Ave Ave w Av Avenu Av w nue nue nue enu enu Ave Ave nue e ee nue nue
Net Absorption
AVAILABLE SPACE OPTIONS RH RH
Highw Hig Hig hway hw Hig Hig hw ay40 ay hw ay 400 400 ay 40 00
Office Inventory*
MAP OF MARKET Q4 2009
3,000,000
$10
1,000,000
$-
-
Public Service & Private Sector Services 17%
Manufacturing & Distribution 10%
2,000,000
$5
Professional Services 10%
Finance 15%
Class A Class B Class C Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
15 MONTH TREND Absorption
Asking Net Rent
4.7%
23
5.0%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
4.5%
Address
19
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
4.0%
15
$17.12
No construction took place during this quarer.
3.5%
11 3.0% 7 2.5% 3 2.0% -1
Q1 2009
Q2 2009
-5
Q3 2009
Q4 2009
Q1 2010
1.5%
-9
1.0%
-13
0.5%
-17
0.0%
MARKET CHARACTERISTICS Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Others 45%
Vacancy Rate
27
* Smallest office market in the GTA with lowest vacancy and highest sublease rates, and highest net asking rates on average of suburban markets. * Strategically located in the GTA with easy access to the areas east, west, north and south of the GTA. * Market is surrounded by highways (including Highways 427, 407, and 400) and residents and local businesses are linked by a network of public transit operated by York Region Transit, GO Train and VIVA * Located adjacent to Buttonville Airport and a short drive to Pearson International Airport * Close to well-educated labour force
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage. Our Knowledge is your Property速
Office Submarket Dashboard: Dufferin-Finch MAP OF SUBMARKET
1,238,162
Net Absorption
(660)
4,673
Vacancy Rate
1.0%
1.1%
Average Asking Net Rent
$9.40
$9.41
Average Additional Rent
$15.21
$15.21
AE AE
West Avenue Avenue West Finch Finch West Finch Avenue West West Avenue Avenue Finch Finch Finch
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 30 office buildings surveyed in this submarket.
Square Feet
NY NY
KH KH
YD YD
AVAILABLE SPACE OPTIONS Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
100,000
50%
90,000
45%
80,000
40%
70,000
35%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
60,000
30%
RECENT TRANSACTIONS Q1 2010
50,000
25%
40,000
20%
30,000
15%
20,000
10%
10,000
5%
0
0% Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Avail. Office Space
Not Avail. Office Space
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
8
2
1
1
0
0
Address
Suite
Sq. Ft.
Tenant
Landlord
No transactions were recorded during this period. TOP Office Sale Transactions by Price Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period.
Gross Rent
$30
4k - 10k sf
TOP Office Lease Transactions by Size
Date
Q1 2010
0 - 4k sf # of units**
GROSS RENT & AVAILABILITY BY BUILDING CLASS
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES 1,200,000
$25.27
$20
$18.09 $15 $10
400,000
$5
200,000
$Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
Finance 15%
Data,Publishing, Broadcasting Manufacturing & Services Distribution 6% 2%
-
Class A
Public Service & Private Sector Services 64%
800,000 600,000
$-
Professional Services 11%
1,000,000
Sq. Ft.
$25
Gross Rent $/Sq. Ft.
DF DF
W W Avenue Avenue Avenue Sheppard W Sheppard Sheppard W Avenue Avenue W Sheppard Sheppard SheppardAvenue
2 222
kilometers kilometers kilometers
AVAILABLE SUPPLY SPLIT Sublease
1 111
0 000
Bathu Bathu Bathu Bath Bath Bath rst Stree rst rst urst Stree urst urst Streetttt Stree
1,238,162
CO CO West West West Steeles Steeles Avenue Steeles AvenueWest Avenue West Steeles Avenue Steeles West SteelesAvenue Avenue
Keel Keel Keelle Kee Kee Kee ee Stre Stre Stre Stre le le et et et Stre Street et et
Office Inventory*
WB WB
Trend
Jane Jane Jane Jane Jane JaneStre Stre Stre et et Stre Stre Street et et et
Q1 2010
Hig Highwa Hig hwa hway Hig Hig hwa hwa yyy y400 400 400
Q4 2009
Duff Dufferin Duff erin erinStre Duff Duff Stre Street erin erin et et Stre Stre et et
SUBMARKET INDICATORS
Q1-10
Others 2%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Asking Net Rent
Address
Vacancy Rate
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period. 5.0%
SUBMARKET CHARACTERISTICS *Residential-Industrial submarket with easy access to large diverse labour pool. 3.0% $9.41
10
1.0% 1.1% 5 -1.0% Q4 2008
Q1 2009
Q2 2009
-5
Q3 2009
Q4 2009
Q1 2010
Vacancy Rate
Net Rent $/sf. / Absorption (1,000s)f
15
* Well serviced by both the TTC (Downsview Subway), Viva, York Region Transportation and the 400 series highways (400 & 407, minutes from the 401) *Submarket is adjacent to Downsview Airport, and 15 minutes from Lester B. Pearson International Airport. *York University is situated in this submarket, bringing over 60,000 students and staff into the submarket everyday (second largest single-day destination in the GTA after Pearson Airport).
-3.0%
-5.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: North Yonge Corridor
Q1-10 MAP OF SUBMARKET
8,883,233
8,883,233
Net Absorption
60,045
(197,318)
Vacancy Rate
4.7%
5.7%
Average Asking Net Rent
$18.52
$18.39
West West West Avenue Avenue Avenue West Steeles Steeles Steeles West West Avenue Avenue Steeles Steeles SteelesAvenue
DF DF
AVAILABLE SPACE OPTIONS
Bay Bay Bay view view Bayview Bay Bay Ave view viewAve Ave view nue nue Avenue Ave Ave nue nue nue
Office Inventory*
Trend Ba Ba Ba thu thu Ba Bathu Ba rst rst thu thurst thu Str Str Str rst rstStr rst eet eet eet Str Street eet eet
Q1 2010
Avenu Avenueee Avenu ale ale ale Avenue Avenue ale aleAvenue Willowd Willowd Willowdale
Q4 2009
Yon Yonge Yon geStre ge ge Stre Stre Street ge et et et Stre Stre et et
SUBMARKET INDICATORS
WS WS
Finch Finch Finch Avenue Avenue West West Finch Finch FinchAvenue Avenue Avenue AvenueWest West West West
CR CR
Number of units on the submarket by size brackets
# of units**
0 - 4k sf
52
4k - 10k sf
22
NY NY Average Additional Rent
$19.59
$19.10 Sheppard SheppardAvenue Avenue AvenueWest West West Sheppard Avenue West Sheppard Avenue West Sheppard Sheppard Avenue West
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 66 office buildings surveyed in this submarket.
Highway Highway Highway 401 401 401 Highway Highway Highway
YD YD
AVAILABLE SUPPLY SPLIT Sublease
Direct
DM DM
Sublease as % of Total Available
1,000,000
65% 55%
Les Les Leslilili S Le Le Le L L L S S
Total Available Office Space: 15285487 sf
800,000
10
20 - 50k sf
11
50k - 100k sf
0
100k sf +
3
York York Road Mills Mills Road Road YorkMills MillsRoad York York Road Mills Road
75%
900,000
10k - 20k sf
0.5 11 000 0.5 0.5 kilometers kilometers kilometers
** Counting smallest divisible units in existing buildings and buildings under construction.
YE YE
700,000
Square Feet
45%
Available Sublease 32%
600,000 500,000
RECENT TRANSACTIONS Q1 2010
35%
400,000
25%
300,000 15% 200,000
TOP Office Lease Transactions by Size Address
Suite
Landlord
BBS Securities Inc. API Asset Performance Inc.
4100 Yonge St
507
1,774
Ontario Teachers Pension Plan Board
40 Sheppard Avenue W
503
767
Professional Engineers Ontario
5%
100,000
Available Direct 0 68% Q4 2008
-5% Q1 2009
Q2 2009
Q3 2009
Q4 2009
TOP Office Sale Transactions by Price
Q1 2010
GROSS RENT & AVAILABILITY BY BUILDING CLASS Not Avail. Office Space
Avail. Office Space
Tenant
Sq. Ft.
Gross Rent
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
3/1/2010
110 Sheppard Avenue East
$22,000,000
H & R REIT
SSQ Financial Group
157,000
$140
$45
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES CATEGORIES
6,000,000
$40
$ $39.56
$35
5,000,000
$33.68
Professional Services 18%
4,000,000 $25 3,000,000
$20 $15
Finance 27%
Sq. Ft.
Gross Rent $/Sq. Ft.
$30
2,000,000
$10 1,000,000
Manufacturing & Distribution 12%
$5
$-
$Class A
Class B
-
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Data,Publishing, Broadcasting Services 5%
18 MONTH TREND Absorption
Asking Net Rent
Vacancy Rate 6.0%
25
$18.39
15 10
Address
4.0%
3.0% Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
-5 -10 -15
Anchor Tenant
Sq. Ft.
Est. Com.
No construction took place during this period.
5 -
Developer
5.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
5.7%
20
Q4 2008
Public Service & Private Sector Services 34%
Others 4%
SUBMARKET CHARACTERISTICS * Traditionally, tighter submarket with limited large office space availabilities * Yonge Subway and other public transit, great proximity to Hwy 401 makes this submarket in the North of the City of Toronto very accessible to employees and customers
2.0%
* Continuing development of residential high-rise condominiums will increase and diversify local labour pool 1.0%
-20 -25
0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc Inc., Brokerage Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Richmond Hill SUBMARKET INDICATORS
Q1-10
MAP OF SUBMARKET
Q4 2009
Q1 2010
Office Inventory*
641,323
733,823
Net Absorption
(13,853)
87,220
Trend
Davis Davis DavisDrive Drive Drive Drive Davis Davis Davis Drive Drive
AVAILABLE SPACE OPTIONS
St. St. St. East John's Sideroad John's East Sideroad SideroadEast St. St.John's John's John'sSideroad Sideroad St. John's East East
$15.54
$0.00
Average Additional Rent
$10.54
$0.00
Bloomington Bloomington BloomingtonRoad Road Road Bloomington Bloomington Road Bloomington
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 11 office buildings surveyed in this submarket.
RH RH
AVAILABLE SUPPLY SPLIT Sublease
WB WB Direct
Elgin Elgin Elgin Mills Mills Rd Rd E E Elgin Elgin ElginMills Mills Mills MillsRd Rd Rd RdE E E E
Sublease as % of Total Available
H7 H7
35,000
Major Major Major Mackenzie Mackenzie MackenzieDrive Drive DriveWest West West Mackenzie Drive West Major Major Major Mackenzie Drive West
70% 30,000
00
2.5 2.5 55 kilometers kilometers kilometers
16th 16th 16thAvenue Avenue Avenue Avenue 16th 16th 16th Avenue Avenue
50%
0
10k - 20k sf
0
20 - 50k sf
0
50k - 100k sf
0
100k sf +
0
RECENT TRANSACTIONS Q1 2010
Address
15,000
30%
10,000
20%
5,000
10% 0% Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Avail. Office Space
Not Avail. Office Space
Suite
Sq. Ft.
Tenant
Landlord
No transactions took place during this period. TOP Office Sale Transactions by Price Date
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period.
Q1 2010
GROSS RENT & AVAILABILITY BY BUILDING CLASS
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
Gross Rent
600,000
$1
Finance 53%
$1 500,000
$1 $1
400,000
$1 $1
300,000
Sq. Ft.
Gross Rent $/Sq. Ft.
2
40%
0
$0 200,000
$0 $0
Data,Publishing, Broadcasting Services 2%
100,000
$0
$Class A
$Class B
$-
Public Service & Private Sector Services 13%
Others 11%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Address
Asking Net Rent
Manufacturing & Distribution 16%
Class C
18 MONTH TREND Absorption
Professional Services 5%
-
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
Vacancy Rate
100
5.0%
80
4.0%
SUBMARKET CHARACTERISTICS * Smallest office submarket in the GTA * Strategically located in the GTA with easy access to the areas east, west, north and south of the GTA.
3.0% 60 2.0% 40 1.0% 0.2%
20
0.0%
Vacancy Rate
Net Rent $/sf. / Absorption (1,000's)
0 - 4k sf 4k - 10k sf
TOP Office Lease Transactions by Size
20,000
$-
# of units**
** Counting smallest divisible units in existing buildings and buildings under construction.
60%
25,000 Square Feet
Yon Yonge Yon ge Yon geStre ge Stre Stre Street et et Stre et et
Average Asking Net Rent
Bayview Bay Bay viewAve view Bay Bay Bay view view Avenue Ave Ave Ave nue nue
0.2%
Bathur Bat Bat Bath Bath Bath hur hur Bat Bat Bat st st urs st urs urs hur hur hur Street Stre ttt Stre st st st et Stre Stre et et
3.7%
Hig Hig Hig hwa Hig Hig Highwa hw hw y hwa hwa ay ay 400 y 400 yy 40 40 4000
Vacancy Rate
Hi Hi gh gh gh Hi High gh ghwa wa wa way yy y 40 40 40 40 404 40 4 44
Wellington Wellington WellingtonStreet Street Street StreetEast East East East Wellington Wellington Wellington Street Street East East
Number of units on the submarket by size brackets
* Submarket is surrounded by highways and residents and local businesses are linked by a network of public transit operated by York Region Transit, GO Train and VIVA * Located adjacent to Buttonville Airport and a short drive to Pearson International Airport * Close to well-educated labour force
$-
-
-1.0% Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
-20
-2.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Propert
Office Submarket Dashboard: Vaughan
Q1-10
SUBMARKET INDICATORS
MAP OF SUBMARKET
4.9%
4.3%
Average Asking Net Rent
$17.66
$16.57
Average Additional Rent
$10.71
$10.52
Major Major Major Mackenzie Mackenzie Drive West Drive West Major Mackenzie Major Major Mackenzie Drive Mackenzie Mackenzie Drive Drive West West West Drive West
Road Road Rutherford Road Rutherford RutherfordRoad Road Rutherford Rutherford Road
CO CO
BR BR
Highway Highway7 Highway 777 Highway Highway
00
55
10 10
Highway 407 Highway 407 Highway 407 407 Highway Highway 407
kilometers kilometers
AVAILABLE SUPPLY SPLIT
H7 H7
WB WB
or w ay
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 60 office buildings surveyed in this submarket.
Sublease
Hig Hig Hig hwa hwa Hig Highwa Hig hwa hway hwa 404 404 yy yy y404 404 404 404
Vacancy Rate
SteelesAvenue Steeles Steeles West Avenue West Avenue West Avenue West Steeles Steeles Steeles
04 04 04 04 04 04
13,656
Bathurst BathurstStreet Street Street Bathurst Bathurst Bathurst Street Street
10,345
Keele Keele KeeleStree Stree Stree Keele Keele Streetttt Stree Stree
Net Absorption
Duff Duff Duff Duf Duf Duf erin erin erinStre ferin ferin Stre ferin Street et Stree Stree Stree et ttt
2,720,083
Jan Jan Jane eee eStre Jan Jan Jan Stre Street Stre et et Stre et et
2,720,083
King Road Road King King Road King Road King Road Wes Wes Wes ton ton tonRoa Weston Wes ton ton Roadd Roa dd d
Office Inventory*
Trend
High High High way way Highway High High 400 way 400 way way 400 400 400
Q1 2010
High High High Hig Hig Hig way way way hwa hwa hwa 27 27 27 yyy27 27
Q4 2009
AVAILABLE SPACE OPTIONS Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
250,000
25%
200,000
20%
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
16
2
5
1
0
0
# of units**
Square Feet
** Counting smallest divisible units in existing buildings and buildings which are under construction.
150,000
15%
100,000
10%
50,000
5%
0
0%
RECENT TRANSACTIONS Q1 2010 TOP Office Lease Transactions by Size Address
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Not Avail. Office Space
Address
Gross Rent
Vendor
Purchaser
Size
$/PSF
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES 1,600,000
$24.42
Data,Publishing, Broadcasting Services 0%
1,400,000
$29.85
1,200,000
$20
1,000,000
$21.50
800,000
$15
Sq. Ft.
Gross Rent $/Sq. Ft.
$25
Price
No transactions were recorded during this period.
$35 $30
Tenant
Landlord
TOP Office Sale Transactions by Price
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Sq. Ft.
No transactions were recorded during this period
Date
Q1 2010
Suite
Finance 19%
Professional Services 24%
600,000 $10 400,000 $5
Manufacturing & Distribution 29%
200,000
$-
Class A
Class B
Class C
Others 11%
Public Service & Private Sector Services 17%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
15 MONTH TREND
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Absorption
Asking Net Rent
20
10.0%
18
$16.57
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period. SUBMARKET CHARACTERISTICS
16
8.0%
14
7.0%
12
6.0%
10 4.3%
8
5.0% 4.0%
6
3.0%
4
* Vaughan has a resident labour force of more than 90,000 and is home to some 7,000 companies. More than half of Vaughan's residents have some post-secondary education. * Vaughan has the lowest Commercial and Industrial Property Taxes in the Greater Toronto Area. * Vaughan's telecommunications network is composed of state-of-the-art fibre optics and 100 percent digital switching. * With over 2,654.8 acres (1,073.7 hectares) of vacant employment land, Vaughan has the second largest inventory of vacant industrial/commercial land within the Greater Toronto Area. Approximately 28 percent of this vacant land is serviced and ready for development. * Area is serviced by multiple transportation routes including Highways 427, 407, and 400, as well as extensive public transportation lines.
2.0%
2
1.0%
-2
Developer
9.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Address
Vacancy Rate
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Yorkdale
Q1-10
SUBMARKET INDICATORS
1,793,284
1,783,284
Net Absorption
(5,038)
(20,617)
Vacancy Rate
2.5%
4.8%
Average Asking Net Rent
$11.87
$10.14
$12.50
AVAILABLE SPACE OPTIONS NY NY
KH KH
Number of units on the submarket by size brackets
# of units**
0 - 4k sf
5
4k - 10k sf
3
10k - 20k sf
1
20 - 50k sf
0
50k - 100k sf
0
100k sf +
0
Avenue Avenue Wilson Wilson Wilson Avenue Avenue Avenue Wilson Avenue Wilson
Highway Highway 401 401 Highway 401 Highway 401 401 401
$7.67
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 28 office buildings surveyed in this submarket.
Allen AllenRoad Road Road Allen Allen Road
Average Additional Rent
Sheppard Sheppard Sheppard Avenue Avenue Avenue West West West Sheppard Sheppard Sheppard Avenue West Avenue West AvenueWest
Trend
Bath Bath Bath Bathu Bathu Bathu urst urst urst Bath Bathurst Bath Stre Stre Stre rst rstStree rst urst urst Stree Stree et et et ttt
Q1 2010
Duf Duf Duf Du Du Du feriin feri feri Duf Duf Duf ffer ffer ffer nStre nn n feri feri feri Street Str Str in in n Stre Stre n eet eet Str Str Str et et et eet eet eet
Office Inventory*
MAP OF SUBMARKET
Q4 2009
YD YD
Lawrence West AvenueWest LawrenceAvenue West Lawrence Avenue Lawrence Lawrence West Avenue West Avenue
AVAILABLE SUPPLY SPLIT Sublease
YE YE Direct
Sublease as % of Total Available
25%
90,000
00
20%
80,000
** Counting smallest divisible units in existing buildings and buildings under construction.
Eglinton West Avenue Eglinton West Avenue Eglinton West West Avenue AvenueWest Eglinton EglintonAvenue
TW TW
RECENT TRANSACTIONS Q1 2010
70,000 Square Feet
11 0.5 0.5 kilometers kilometers kilometers
Road Road Road Road Road Road
100,000
TOP Office Lease Transactions by Size
15%
60,000 50,000
Address 10%
40,000
Suite
Sq. Ft.
Tenant
Landlord
No transactions were recorded during this period.
30,000
TOP Office Sale Transactions by Price 5%
20,000
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
10,000
No transactions were recorded during this period.
0%
0 Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
Gross Rent
Finance 4%
$40 1,400,000
Professional Services 13%
$35 1,200,000 $23.50 1,000,000
$25 $20
800,000
$24.95 $13.10
$15
600,000
$10
400,000
$5
200,000
$-
Sq. Ft.
Gross Rent $/Sq. Ft.
$30
Manufacturing & Distribution 17%
Class B
Others 3%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Address
18 MONTH TREND Absorption
Asking Net Rent
4.8%
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
Vacancy Rate
5.0%
SUBMARKET CHARACTERISTICS *Residential-Industrial submarket with easy access to large diverse labour pool.
4.5% 4.0% $10.14
3.5% 3.0% 2.5%
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
2.0% 1.5% 1.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Public Service & Private Sector Services 42%
Class A
13 11 9 7 5 3 1 -1 -3 -5 -7 -9 -11 -13 -15
Data,Publishing, Broadcasting Services 21%
* Well serviced by both the TTC (Downsview Subway), Viva, York Region Transportation and the 400 series highways (400 & 407, minutes from the 401) *Submarket is adjacent to Downsview Airport, and 15 minutes from Lester B. Pearson International Airport. * Submarket contains Oxford Properties' Yorkdale Shopping Centre: The 5th largest mall in Canada (1.4 million GLA), it attracts 400,000 customers per week with over $1,000/sf of sales (highest in Canada).
0.5% 0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to notice. All numbers reported use the most accurate information available at the time of publishing, change or withdrawal without notice publishing however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
COLLIERS INTERNATIONAL
GTA EAST MARKET AND SUBMARKET BOUNDARIES WHITCHURCH STOUFFVILLE
LEGEND
East East East Drive Drive East Drive Mackenzie Mackenzie Drive Mackenzie Major Major Mackenzie Major East East Drive Drive Mackenzie Mackenzie Major Major Major
H Hig ig ighw H hw hway ig H H hw ig hw ay ay 48 48 48 48 48 48
MA MA
Avenue Avenue 16th 16th 16th Avenue Avenue Avenue 16th 16th Avenue 16th
B B B ay ay vi vi vi B B Bay ew ew ew ay ay ayvi vi view A A A ew ew A ve ve ve nu nu nu A Ave ve venu ee nu nue ee e
WHITBY
PO PO AJAX
Municipal Boundary
East East Avenue Avenue East East Steeles Steeles Avenue East Steeles Avenue Steeles Steeles Avenue
OSHAWA
Road Road Road ton Road ton Taunton Taun ton Road Road Taun ton Taun Taun
East East dd Roa Roa Roa land land land East East d East Ross Ross Ross Roadd Roa land Roa land Rossland Ross Ross
Dundas Dundas Dundas Street Street Street East East East Street East Dundas Dundas Dundas Street East
CR CR
Submarket Boundary
Road Road hesterrrrr Road Wincheste Winc Road heste Winc heste heste Winc Winc
407 407 Highway Highway Highway 407 407 407 Highway 407 Highway Highway
WS WS
GO Transit Street Street Simcoe Street Simcoe Simcoe Street Street Simcoe Simcoe Simcoe
MARKHAM
Road Road Ridge Lake Lake Ridge Road Road Road Road Lake Ridge Ridge Lake Lake
Hi Hi Hi gh gh wa wa High Hi Hi ghwa gh gh 40 40 wayyyyyy 40 wa wa 404 40 40 4 44 44
Main Road
PICKERING Brock Brock Road Road Brock Brock Brock Road
H7 H7
Highway
Road Road Westney Road Westney Westney Road Road Westney Westney Westney
RICHMOND HILL
W W W oo oo oo db db db W Woo W ine ine ine oodb oo dbine db Av Av Av ine Av ine en en en Aven Av ue ue ue en enue ue ue
Road Road Road Stouffville Stouffville Stouffville Road Road Road Stouffville Stouffville
Prepared By: Colliers International Research Department
Highway Highway Highway 401 401 401 401 Highway Highway Highway 401
TORONTO
DM DM DO DO
Victoria Avenue Avenue Park Park Avenue Victoria Victoria Park Victoria
Don on Va D D on D on Valle Va lleyyyy P lle lle Par P arkw ar kway kw ay ay ay ay ay
Avenue East Avenue East East Avenue East Sheppard Sheppard Sheppard Avenue East Avenue East Sheppard Avenue Sheppard Sheppard
ST ST East East Avenue Lawrence Avenue Lawrence Lawrence Avenue East East East Avenue Avenue East Lawrence
ddd oooaaaaaaddd RR Rooo RR nnnnnnR o o o t t t o o o sssttt iininnggggggsss K Kiininn KK KK
LAKE ONTARIO
TE TE
00
55
10 10
kilometers kilometers
Our Knowledge is your Property 速 Colliers Macaulay Nicolls (Ontario) Inc., Brokerage and certain of its subsidiaries, is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies with over 240 offices throughout more than 50 countries worldwide. This document has been prepared by Colliers International for advertising and general information only. Colliers International does not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.
Office Market Dashboard: GTA East
Q1-10
H7 H7
Kenned Ken Ken ned nedyyyyyyRoa ned ned Roa Road dd dd d Roa Roa Roa
48,035
40 404 40 44 44 4
(146,305)
Bay Bay Bay view Bayview view Ave viewAve Ave nue nue nue Avenue nue nue
Net Absorption
44 44 40 00 00 00 4 00 00 0
35,297,953
MA MA
Street Street Simcoe Simcoe Simcoe Street Street Street Simcoe Simcoe Street Simcoe
35,149,403
Road Road Road Stouffville Stouffville Stouffville Road Road Road Stouffville Stouffville
Road Road Ridge Lake Ridge Road Lake Ridge Lake Road Road Ridge Lake
Office Inventory*
Trend
Brock Brock Road Road Brock Road Brock BrockRoad
Q1 2010
Highway Highway Highway Highwa Highwa Highwa 48 48 48 yyy 48 48 48
MAP OF MARKET Q4 2009
War War War den den den War Warden War Ave Ave denAve den nue nue nue Ave Avenue Ave nue nue
MARKET INDICATORS
Road Road Road Winchester Winchester Winchester Road Road Road Winchester Winchester
PO PO
407 407 407 407 407 407
Road Taunton Taunton Taunton Road Road Road TauntonRoad Taunton Taunton
Steeles Steeles SteelesAvenue Avenue AvenueEast East East Avenue East Steeles Steeles Steeles Avenue East
8.4% $12.59
$12.83 $12.57
DVP DVP DVP DVP DVP DVP
$12.14
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 462 office buildings surveyed in this market.
00
TE TE
LAKE ONTAR IO
20 20
10 10
AVAILABLE SPACE OPTIONS
Direct
Square Feet
ST ST
Lawrence Lawrence LawrenceAvenue Avenue Avenue AvenueEast East East East Lawrence Lawrence Lawrence Avenue Avenue East East
Eglinton Eglinton EglintonAvenue Avenue Avenue AvenueEast East East East Eglinton Eglinton Eglinton Avenue Avenue East East aaaddddd Roooooaa RR RR R tonnnnn to to to to ssssssto in ingggggg in in in Kin KK KK K
kilometers kilometers
AVAILABLE SUPPLY SPLIT Sublease
Number of units on the regional market by size brackets
Sublease as % of Total Available
5,000,000
50%
4,500,000
45%
4,000,000
40%
3,500,000
35%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
3,000,000
30%
RECENT TRANSACTIONS Q1 2010
2,500,000
25%
2,000,000
20%
1,500,000
15%
Address
1,000,000
10%
8 Sampson Mews 155 Gordon Baker Road 155 Gordon Baker Road
500,000
5%
0
0%
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
461
141
103
88
10
8
# of units**
TOP Office Lease Transactions by Size
Not Avail. Office Space
Avail. Office Space
Date
Address dd
2/10/2010
2200-2206 Eglinton Avenue East
18,000,000 $24.49 16,000,000 $26.78
Tenant
200
17,208
King Reed & Associates Inc
112
12,080
Blackwood Real Estate General
King Reed & Associates Inc
111
12,080
Blackwood Real Estate General
King Reed & Associates Inc
Price i
Vendor d
Purchaser h
Size i
$/PSF $/
$45,700,000
GE Capital Canada Real Estate
Dundee REIT
436,803
$105.00
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
14,000,000 12,000,000
$22.05
10,000,000 $15 8,000,000
Finance 24%
Data,Publishing, Broadcasting Services 13%
Sq. Ft.
$20
Landlord Blackwood Real Estate General
TOP Office Sale Transactions by Price
Gross Rent
$30
$25
Sq. Ft.
Suite
GROSS RENT & AVAILABILITY BY BUILDING CLASS
Gross Rent $/Sq. Ft.
401 401 401 401 401
Dundas Dundas DundasStreet Street Street StreetEast East East East Dundas Dundas Dundas Street Street East East
Avenue Sheppard East East Avenue East Avenue Sheppard Avenue Sheppard East Sheppard
DM DM DO DO
Average Additional Rent
East East East Avenue Avenue Avenue Finch Finch Finch East East Avenue Avenue East Finch Finch Finch Avenue
Victoria Victoria Victoria Park Park Avenue Avenue Victoria Victoria VictoriaPark Park Park ParkAvenue Avenue Avenue Avenue
Average Asking Net Rent
WS WS
7.8%
427 427 427 427 427
Vacancy Rate
6,000,000
$10
4,000,000
Professional Services 21%
$5 2,000,000 -
$-
Manufacturing & Distribution 23%
Class A Class B Class C Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Public Service & Private Sector Services 17%
Others 2%
18 MONTH TREND Absorption
Asking Net Rent
Vacancy Rate
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
12.0%
15
Address $12.83
11 9
10.0%
8.0%
7
7.8% 6.0%
5 3
4.0%
1 -1
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
2.0%
-3 -5
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
MARKET CHARACTERISTICS
Vacancy Rate
Net Rent $/sf. / Absorption (100,000's)
13
*GTA East Market includes submarkets of Don Mills/Eglinton, Duncan Mills, Consumers Road, Scarborough Town Centre, Markham Town Centre, Pickering/Oshawa, Hwy 404/Hwy 407, Woodbine/Steeles, and Toronto East. *Serviced by multiple high-density transportation routes (401, 407, 404, DVP) and several public transit services (TTC, Go, Ajax Pickering TA, Oshawa Transit, Whitby Transit, York Region Transit) *Close proximity to suburban labour pool *Post-Secondary education campuses include University of Toronto - Scarborough, Seneca College - Newham, Durham College. *Major companies in this area inlude Celestica, IBM, Wrigley's Canada, Nestlé Canada, Mony Life, McDonald's Canada, Alcatel Canada Wire.
0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property®
Office Submarket Dashboard: Consumers Road SUBMARKET INDICATORS
Q1-10
MAP OF SUBMARKET
7,908
(3,107)
Vacancy Rate
7.7%
6.9%
Hig Highw Hig Hig Hig hw hway hw hw ay ay ay 40 ay ay 40 40 404 444 4 40 40
Net Absorption
WS WS FinchAvenue Finch Avenue East Finch Avenue East AvenueEast East Finch Finch Avenue East Finch Leslie Les Les lie Les Les lie Stre Street Stre lie et et Stre Stre et et
3,706,832
Ba Bayvie Ba Bay yvie yvie Bay Bay view w Ave w w view view Ave Avenue nue nue nue nue
3,706,832
NY NY
Don Don Mills Mills Road Don Road Road Mills Don Don Mills Mills Road Road Road
CR CR
Sheppard Sheppard Avenue East Sheppard AvenueEast East Sheppard SheppardAvenue Avenue East
Average Asking Net Rent
$12.21
$12.56
Average Additional Rent
$12.58
$12.61 00
22
DM DM
AVAILABLE SPACE OPTIONS Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
600,000
25%
500,000 Square Feet
11 kilometers kilometers
AVAILABLE SUPPLY SPLIT
20%
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
85
19
9
1
0
0
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
400,000 15%
RECENT TRANSACTIONS Q1 2010
300,000
TOP Office Lease Transactions by Size 10%
200,000
Address 5%
100,000
0%
0 Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Avail. Office Space
Not Avail. Office Space
245 Yorkland Boulevard,
Landlord
Tenant
303
2,771
Northam Realty Advisors Limited
LPI Communications Group Inc.
302
2,233
Northam Realty Advisors Limited
LPI Communications Group Inc.
TOP Office Sale Transactions by Price Date
Address
Price
Vendor
Purchaser
Size
$/PSF
N transactions No t ti were recorded d dd during i thi this period. i d
Gross Rent
$35
Sq. Ft.
Suite
245 Yorkland Boulevard,
Q1 2010
GROSS RENT & AVAILABILITY BY BUILDING CLASS 2 500 000 2,500,000
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
$22.77
$30
2,000,000
$30.28
Data,Publishing, Broadcasting Services 9%
$23.48
$20
1,500,000
$15
Sq. Ft.
$25 Gross Rent $/Sq. Ft.
ST ST
H H Hig ig ig H H H ighw hw hw ig hway hw ay ay 40 ay ay 40 40111 40 40 11
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 30 office buildings surveyed in this submarket.
Sublease
Avenue Avenue Avenue Warden Warden Warden Avenue Avenue Warden Avenue Warden
Office Inventory*
Trend
Avenue Pharmacy Pharmacy Avenue Pharmacy Avenue Avenue Avenue Avenue Pharmacy Pharmacy Pharmacy
Q1 2010
Avenue Avenue Avenue Park ParkAvenue Avenue Victoria Avenue Park Park Victoria Victoria Park Victoria
Q4 2009
Finance 22%
1,000,000 Professional Services 28%
$10 Manufacturing & Distribution 26%
500,000 $5 $-
Class A
Class B
Class C
Others 4%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Public Service & Private Sector Services 11%
18 MONTH TREND Absorption
Asking Net Rent
Vacancy Rate
12
$12.56
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
8.0%
10
7.0%
8 6.9%
6
6.0%
4
5.0%
2
4.0% 3.0%
-2
Address
9.0%
Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
2.0%
-4
1.0%
-6
0.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
TOP PROJECTS UNDER CONSTRUCTION BY SIZE 10.0%
14
SUBMARKET CHARACTERISTICS * Comparably small submarket with budget-friendly real estate costs. * Excellent access to Hwy 400 series allows for easy in-and-out of the office by employees and customers. * Well served by TTC buses and the Sheppard Subway. * High profile location visible from Highway 401 and Highway 404. * With new residential development at the Concord Park Place and the Don Mills Centre labour pool will expand and diversify. * Fairview Mall offers a sufficient selection of amenities to employees.
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Duncan Mill SUBMARKET INDICATORS
Q1-10 MAP OF SUBMARKET
Q4 2009
Q1 2010
Office Inventory*
2,313,525
2,313,525
Net Absorption
1,368
(13,098)
Vacancy Rate
3.7%
1.1%
Average Asking Net Rent
$10.30
$12.94
Average Additional Rent
$14.29
$14.57
CR CR
Trend
Hig H H Hi ig ig Hi Hi gh hw hw hw gh gh w way w ay ay ay ay ay 401 40 40 1 11 11
East East East Avenue Avenue Avenue Sheppard Sheppard Sheppard East East Avenue Avenue East Sheppard Sheppard SheppardAvenue
AVAILABLE SUPPLY SPLIT
Lawrence Lawrence Lawrence East Avenue East AvenueEast Avenue East Avenue Lawrence Lawrence Lawrence Avenue Avenue East East
22
11 kilometers kilometers
ST ST
Birchmount Birchmount Road Birchmount Road Birchmount Birchmount
VictoriaPark Victoria Park Victoria ParkAvenue Avenue Avenue
DonMills Don Don MillsRoad Mills Don Don Don Road Road Mills Mills Road Road
Les Les Les lie lie Leslie Les Les Stre lieStre lie lie Stre et Street Stre et et et
Ba Ba Ba yvie yvie Bayvie Ba w w yview yvie yvie w Ave Ave wAve Ave nue Avenue nue nue nue
Yonge Yon Yon geStre ge ge Street Stre Stre ge et et Stre Stre et et et
DO DO
ue ee ue e
00
Lawrence Lawrence AvenueEast East Lawrence Avenue East LawrenceAvenue
Road Road Ellesmere Ellesmere EllesmereRoad Road Road Ellesmere Ellesmere Ellesmere
Pharmacy Pharmacy Avenue Avenue PharmacyAvenue Pharmacy Avenue Pharmacy Avenue
YE YE
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 39 office buildings surveyed in this submarket.
Sublease
DM DM
York York Mills Mills Mills Road York Road Mills Road York York Mills Road Road
Don Don Don Valley Valley Valley Parkway Parkway Parkway Don Don Don Valley Valley ValleyParkway Parkway Parkway
NY NY
AVAILABLE SPACE OPTIONS Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
400,000
80%
350,000
70%
300,000
60%
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
18
2
1
3
0
0
# of units**
Square Feet
** Counting smallest divisible units in existing buildings and buildings which are under construction.
250,000
50%
200,000
40%
150,000
30%
100,000
20%
50,000
10%
0
RECENT TRANSACTIONS Q1 2010 TOP Office Lease Transactions by Size Address
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Address
Avail. Office Space
Not Avail. Office Space
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period.
GROSS RENT & AVAILABILITY BY BUILDING CLASS Gross Rent
$35
Tenant
Landlord
TOP Office Sale Transactions by Price Date
Q1 2010
Sq. Ft.
No transactions were recorded during this period.
0% Q4 2008
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES CATEGORIES
2,000,000 2 000 000 1,800,000 $29.14
1,600,000 $26.04
$25
Data,Publishing, Broadcasting Services 13%
1,400,000 $22.65
$20
1,200,000 1,000,000
$15
Sq. Ft.
$30
Gross Rent $/Sq. Ft.
Suite
Finance 12%
Professional Services 18%
800,000 600,000
$10
400,000 $5
Manufacturing & Distribution 24%
200,000
$-
Class A
Class B
Others 7%
Class C
Public Service & Private Sector Services 26%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Asking Net Rent
15%
16
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
$12.94 14
SUBMARKET CHARACTERISTICS
12 10% 10 8 5%
6 4 2
1.1%
0%
-2
Vacancy Rate
Net Rent $/sf. / Absorption (10,000s)f
Address
Vacancy Rate
* Submarket has second highest vacancy rate in the entire GTA next to Scarborough Town Centre at 13.8% * Great access to Don Valley Parkway which runs North-South through the submarket and Hwy 401 which represents the northern most border of this submarket * Extensive public transit coverage via bus connecting to TTC Subway along York Mills Road and Lawrence Avenue * Signage opportunities along the highway * Real Estate costs lower than in denser areas * Contains most expensive residential neighbourhood in Canada - The Bridle Path
Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
-4
-5%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc Inc., Brokerage Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Don Mills-Eglinton SUBMARKET INDICATORS
MAP OF SUBMARKET
Vacancy Rate
11.9%
11.3%
Average Asking Net Rent
$11.66
$11.67
$14.17
YE YE Eglinton Eglinton EglintonAvenue Avenue AvenueEast East East
DO DO
Don DonValley Valley Parkway Valley Parkway Don Don Don Valley Valley Valley Parkway Parkway
53,335
Don Don Don Mills Mills DonMills Don Mills Road Road Road MillsRoad Road Road
21,695
Leslie Street Street Street Street Leslie Leslie Street Street
Net Absorption
Bayview Bayview Bayview Avenue Avenue Bayview Bayview BayviewAvenue Avenue
5,559,962
Lawrence Avenue East LawrenceAvenue Lawrence Avenue East Lawrence Avenue AvenueEast East East Victoria Victoria VictoriaPark Park Park ParkAvenue Avenue Avenue Avenue Victoria Victoria Victoria Park Park Avenue Avenue
5,559,962
Lawrence Avenue East Lawrence LawrenceAvenue East Avenue Avenue AvenueEast Lawrence East East
Avenue Pharmacy Pharmacy Avenue Pharmacy Avenue Pharmacy Pharmacy Avenue Avenue PharmacyAvenue
Office Inventory*
DM DM
Trend
Drive Drive Drive Laird Laird LairdDrive Drive Drive Laird Laird Laird
Q1 2010
Mount Mount Pleasant Road MountPleasant Pleasant Road Mount Mount Pleasant PleasantRoad Road Road
Q4 2009
Average Additional Rent
Q1-10
ST ST
Boulevard Boulevard Overlea Boulevard Boulevard Overlea OverleaBoulevard Overlea
YS YS
$14.16
Clair St. Clair Avenue St. Avenue St. East East St. Clair St.Clair Clair Avenue St. Avenue Clair East AvenueEast East Avenue East
00
33
1.5 1.5
O'Connor Drive O'Connor Drive O'Connor Drive Drive O'Connor O'Connor Drive
AVAILABLE SUPPLY SPLIT
TE TE
D D D D D D
kilometers kilometers
Vic Vic Vic Vic Vic Vic
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 62 office buildings surveyed in this submarket.
AVAILABLE SPACE OPTIONS
Sublease
Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
1,000,000 70%
Total Available Office Space: 15285487 sf
900,000 800,000
60%
Square Feet
700,000
50%
600,000
Available Sublease 20%
500,000 400,000
40%
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
84
17
27
1
3
3
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q1 2010 TOP Office Lease Transactions by Size
30%
300,000 Available Direct 200,000 80% 100,000
20%
Address
Suite
Date
Avail. Office Space
Not Avail. Office Space
Address
Gross Rent
Vendor
Purchaser
Size
$/PSF
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES 4,500,000
$25.82
4,000,000
$28.40
Data,Publishing, Broadcasting Services 16%
3,500,000 $20
3,000,000 $21.65
2,500,000
$15 2,000,000 $10
Finance 17%
Sq. Ft.
Gross Rent $/Sq. Ft.
Price
No transactions were recorded during this period
GROSS RENT & AVAILABILITY BY BUILDING CLASS $30
Tenant
Landlord
TOP Office Sale Transactions by Price
0% Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
Sq. Ft.
No transactions were recorded during this period.
10%
0
$25
0 - 4k sf
Professional Services 13%
Manufacturing & Distribution 30%
1,500,000 1,000,000
$5 500,000 $-
Class A
Class B
Public Service & Private Sector Services 24%
Others 0%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Asking Net Rent
Address
Vacancy Rate
14.0%
14
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
* Great access to Don Valley Parkway which runs North-South through the 11.3%
10.0%
8 6
8.0%
4
6.0%
2 4.0% -2
SUBMARKET CHARACTERISTICS
12.0%
10
Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
-4
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
$11.67 12
submarket. * Convenient public transport to the TTC Subway along Eglinton and Don Mills Roads. * Major companies in this area inlude Celestica, BCE, Telus, Four Seasons, ESSO and Home Depot Head Office. * Real Estate costs lower than in denser areas. * Cadillac Fairview has developed Shops at Don Mills, a 450,000-sq.ft. community-based lifestyle centre on the SW corner of Lawrence Ave and Eglinton Ave E with 1,300 mid-rise residential units, retail and office space.
2.0% 0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to or withdrawal All numbers reported off publishing, however we acknowledge may be t change h ithd l without ith t notice. ti b t d use the th mostt accurate t information i f ti available il bl att the th time ti bli hi h k l d that th t there th b marginal i l changes h over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Propert
Office Submarket Dashboard: Hwy 404 & Hwy 407 SUBMARKET INDICATORS
MAP OF SUBMARKET
8,356,693
8,355,243
Net Absorption
(66,472)
(34,658)
Vacancy Rate
9.2%
9.3%
Average Asking Net Rent
$14.74
$15.87
$10.32
Stouffville Stouffville StouffvilleRoad Road Road Road Stouffville Stouffville Stouffville Road Road
AVAILABLE SPACE OPTIONS
Avenue Avenue 19th 19th 19th Avenue Avenue 19th 19thAvenue
Rd Rd E E RdE Elgin Mills Elgin Mills ElginMills Mills Rd E E E Rd Rd Elgin Mills Elgin Elgin Mills
RH RH
War War War Wa Wa Wa den denAve den Avenue Ave Ave rden rden rden nue nue Ave Ave nue nue
Office Inventory*
Trend
Hig Hig hw hway Hig Highw hwa ay hwa 404 404 yy 404 404 404 404
Q1 2010
Woodbine Woo Woo dbine dbin dbin Woo Woo dbine dbine eAve ee ee dbin Aven Aven dbin dbin Aven Ave Ave ue ue ue Aven Aven Aven nue nue nue ue ue ue
Q4 2009
Average Additional Rent
Q1-10
H7 H7
$12.09 Major Major Mackenzie Mackenzie Major Drive Drive East East Drive Drive Mackenzie Major Major Mackenzie DriveEast MajorMackenzie MackenzieDrive East East
MA MA
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 125 office buildings surveyed in this submarket.
Square Feet
Sublease as % of Total Available
CO CO
1,200,000
70%
1,000,000
60%
800,000
50% 40%
600,000
Avenue Avenue 16thAvenue 16th Avenue 16th Avenue 16th 16th
000
11
77 yy ay ay ay Highwa Highwa Highwa 77 7 y yy y7 Highw Highw Highw Highwa Highwa Highwa
222
kilometers kilometers
Address
Suite
Date
34
50k - 100k sf
1
100k sf +
3
Sq. Ft.
Tenant
Landlord
Address
Price
Vendor
Purchaser
Size
$/PSF
4,500,000
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
4,000,000
$30.49 $23.21
3,500,000
$25
Data,Publishing, Broadcasting Services 11%
3,000,000
$25.47 $20
2,500,000
$15
2,000,000
Sq. Ft.
$30
Gross Rent $/Sq. Ft.
20 - 50k sf
No transactions took place during this period.
Gross Rent
$35
43 31
TOP Office Sale Transactions by Price
GROSS RENT & AVAILABILITY BY BUILDING CLASS Not Avail. Office Space
4k - 10k sf 10k - 20k sf
No transactions were recorded during this period.
0% Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
Avail. Office Space
93
TOP Office Lease Transactions by Size
10%
0
0 - 4k sf
RECENT TRANSACTIONS Q1 2010
20%
200,000
# of units**
** Counting smallest divisible units in existing buildings and buildings under construction.
Highway Highway 407 407 407 Highway Highway
30% 400,000
Wa Wa Warden rden rden War War War Ave Ave denAve den den Avenue nue nue Ave nue nue
Direct
Leslie Les Les lieStre lie Les Les Street Stre lie lie et et Stre Stre et et
Sublease
Bay Bay Bay view view Bayview Bay view Ave viewAve Ave Avenue nue nue nue nue nue
AVAILABLE SUPPLY SPLIT
Number of units on the submarket by size brackets
Finance 26%
1,500,000
$10
1,000,000 $5
Manufacturing & Distribution 26%
500,000
Professional Services 28%
-
$Class A
Class B
Class C
Others 2%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Public Service & Private Sector Services 7%
18 MONTH TREND Absorption
20
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Vacancy Rate
9.3%
10.0% 9.0%
16
$15.87 8.0%
12
6.0% 4 5.0% Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010 -4
4.0%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
0
0
0
0
1/0/1900
SUBMARKET CHARACTERISTICS
7.0%
8
* Convenient access to Hwy 400 series and a well developed road infrastructure make this Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Asking Net Rent
submarket very accessible by car * Lower real estate costs that in the City of Toronto * Proximity to labour pool in suburban municipalities * Buttonville airport is located in the center of this submarket * Most office space is concentrated in business parks located along Hwy 404 (e.g. Beaver Creak and Headford Business Park)
3.0%
-8
2.0%
-12
1.0%
-16
0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Woodbine-Steeles
Q1-10 MAP OF SUBMARKET Trend
Net Absorption
9,381
4,355
Vacancy Rate
6.1%
5.9%
Average Asking Net Rent
$12.47
$12.24
Average Additional Rent
$12.33
$13.30
Yo Yo Yo Yo Yo Yo
407 407 Highway Highway Highway 407 407 407 Highway Highway Highway 407
CO CO
WS WS
John John Street Street Street John John John Street Street Street
Square Feet
ST ST
AVAILABLE SPACE OPTIONS Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
800,000
90%
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
68
31
14
26
2
2
700,000
80%
600,000
70%
500,000
60%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
400,000
50%
RECENT TRANSACTIONS Q1 2010
# of units**
40%
300,000
TOP Office Lease Transactions by Size
30%
200,000 100,000 0
20%
Address
Suite
Sq. Ft.
Landlord
Tenant
10%
155 Gordon Baker Rd
111
12,080
Blackwood Real Estate General
King Reed & Associates Inc
0%
TOP Office Sale Transactions by Price
Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010 Date
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period.
Gross Rent
$30
3,500,000 $27.49
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
3,000,000 3 000 000
$25
2,500,000
$20 $20.62 $19.40
$15
2,000,000 1,500,000
$10
Data,Publishing, Broadcasting Services 8%
1,000,000
$5
500,000
$-
Finance 40%
Sq. Ft.
Gross Rent $/Sq. Ft.
East East AvenueEast FinchAvenue Avenue Finch Finch East East East Avenue Finch Avenue Finch Avenue Finch
kilometers kilometers
AVAILABLE SUPPLY SPLIT Sublease
44
Hig Hig Highwa hw hw hway Hig Hig Hig hwa ay ay hwa 404 404 404 yyy 404 404
NY NY 22
00
Leslie Leslie Leslie Leslie Leslie LeslieStreet Street Street Street Street Street
Bay Bay Bay view view Bayview Bay view viewAve Ave Ave Ave nue nue Avenue nue nue
Steeles AvenueEast Avenue Steeles Avenue Steeles East East East Steeles Avenue Steeles Steeles Avenue Avenue East East
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 49 office buildings surveyed in this submarket.
Woodbine Woo Woo dbineAven dbine Woo Woo Avenue Aven dbine dbine ue ue Aven Aven ue ue
5,002,933
Avenue Avenue Warden WardenAvenue Avenue Warden Avenue Warden Warden
5,002,933
MA MA
Avenue Avenue ParkAvenue Park Victoria Victoria Victoria Victoria VictoriaPark Victoria
Office Inventory*
H7 H7
Avenue Avenue Pharmacy Pharmacy Avenue PharmacyAvenue Pharmacy Pharmacy
Q1 2010
Road Mills Mills Don Road Don Mills Road Road Don MillsRoad DonMills Don
Q4 2009
Bathu Bath Bath Bathu Bath Bath
SUBMARKET INDICATORS
Class A
Class B
Manufacturing & Distribution 14%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Professional Services 28% Others 5%
Public Service & Private Sector Services 5%
18 MONTH TREND Absorption
Asking Net Rent
8.0%
$12.24
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
7.0%
10
SUBMARKET CHARACTERISTICS 6.0% 5.9% 5.0%
5
4.0% Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
3.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Vacancy Rate
15
* Great access to Hwy 404/407, closeness to highways also offers highway signage opportunities. * Toronto Buttonville Municipal Airport is just minutes away to the North. * Lower real estate costs than in denser submarkets. * Toronto - Markham border runs from East to West through this area resulting in the fact that office building owners North of Steeles Ave E have to pay lower taxes than South of it. * The Seneca College of Applied Arts and Technology - Newham College is located in this submarket offering post-secondary education on a full and part-time basis.
2.0% -5 1.0% -10
0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Propert Our Knowledge is your Property
Office Submarket Dashboard: Markham
Q1-10
SUBMARKET INDICATORS
MAP OF SUBMARKET
Q4 2009
Q1 2010
Office Inventory*
3,267,191
3,417,191
Net Absorption
(23,991)
137,369
Trend
AVAILABLE SPACE OPTIONS
Average Additional Rent
$7.32
Nint Ninthh Nint hhLine Line Nint Nint Nint Line Line Line
Hig Hig hw Hig Highw ay ay hw hway 48 ay ay ay48 48 48
McC McC McC owan ow ow Mc Mc Mc owa owa owa an an Cow Cow Cow nnnRoa an an an Roa Roaddd
7.0% $12.86
Ken Ken Ken ned ned Kenned Ken Ken nedy ned ned Roa Roa yRoa yyy Road Roa d ddd
7.0% $13.68
rham Line Line rhamLine Line York-Du York-Du rham rham York-Durham York-Du York-Du
Vacancy Rate Average Asking Net Rent
H7 H7
Wa Wa Warden rden War War War rden Ave Ave Avenue den den denAve nue nue Ave Ave nue nue nue
Road Road Road Stouffville Stouffville Road Road StouffvilleRoad Stouffville Stouffville
Number of units on the submarket by size brackets
# of units**
0 - 4k sf
16
East East Drive Drive Mackenzie Mackenzie Major Major East East Drive DriveEast Major Mackenzie Mackenzie MackenzieDrive Major Major
$7.53
MA MA
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 46 office buildings surveyed in this submarket.
Avenue 16thAvenue Avenue 16th 16th Avenue 16th
4k - 10k sf
5
10k - 20k sf
8
20 - 50k sf
7
50k - 100k sf
1
100k sf +
0
AVAILABLE SUPPLY SPLIT Sublease
Direct
7 777 Highway7 Highway Highway Highway
Sublease as % of Total Available
407 407 407 Highway Highway 407 Highway 407
400,000 70%
hhhAvenue Avenue Avenue th th th Fourteent Fourteent Fourteent Avenue Fourteen Fourteen Fourteen Fourteenth Fourteenth Fourteenth
350,000 60%
Square Feet
300,000
00
1.5 1.5 1.5 33 kilometers kilometers kilometers kilometers
40%
200,000 150,000
30%
100,000
20%
RECENT TRANSACTIONS Q1 2010 TOP Office Lease Transactions by Size Address
Suite
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
Date
Avail. Office Space
Not Avail. Office Space
Address
Price
Gross Rent
1,800,000 1 800 000
$23 82 $23.82
Data,Publishing, D t P bli hi Broadcasting Services 10%
1,600,000
$19.62
1,200,000 $15
1,000,000
$16.50
Sq. Ft.
1,400,000
$20
Purchaser
Size
$/PSF
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
2,000,000
$25
Vendor
No transactions were recorded during this period
GROSS RENT & AVAILABILITY BY BUILDING CLASS $30
Tenant
Landlord
TOP Office Sale Transactions by Price
0%
0
Sq. Ft.
No transactions were recorded during this period.
10%
50,000
Gross Rent $/Sq. Ft.
Steeles Avenue East Steeles AvenueEast East SteelesAvenue Avenue East Steeles Steeles Avenue East
ST ST
50%
250,000
** Counting smallest divisible units in existing buildings and buildings under construction.
Manufacturing & Distribution 40%
Finance 19%
800,000 $10
600,000 400,000
$5
200,000 $-
Class A
Class B
Others 2%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Public Service & Private Sector Services 4%
Professional Services 25%
18 MONTH TREND Absorption
Asking Net Rent
8.0%
14
$13.68
12
7.0%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
7.0%
SUBMARKET CHARACTERISTICS
6.0%
* Close to Hwy 400 series and a well developed road infrastructure make this submarket
10 5.0%
8 6
4.0%
4
3.0%
2
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Vacancy Rate
16
very accessible by car * Lower real estate costs that in the City of Toronto * Proximity to labour pool in suburban municipalities * Buttonville airport is easily accessable * High-Technology and Life Sciences are the two key business clusters in this area * Seneca College recently opened their Markham campus, the first post-secondary educational research and training facility in Markham.
2.0% -2
Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
-4
1.0% 0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Pickering-Oshawa SUBMARKET INDICATORS
MAP OF SUBMARKET
Average Asking Net Rent
$13.70
$13.70
Street Street Brock Brock Brock Street Street Street Brock BrockStreet
Avenue Finch Avenue Finch Avenue Finch Finch Avenue Finch Finch Avenue Avenue
$12.49
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 31 office buildings surveyed in this submarket.
AVAILABLE SUPPLY SPLIT
Square Feet
Sublease
Highway Highway Highway 401 401 401 Highway Highway Highway 401 401 401
ST ST hmount mount mount Road Road Road
$12.49
Road Road Conlin Road Conlin Conlin Road Road Road Conlin
PO PO
00
Road Road Road Taunton TauntonRoad Road Taunton Road Taunton Taunton
Townline Townline North Townline North Road RoadNorth Townline Townline TownlineRoad
1.1%
Road Road Enfield Enfield Road Enfield Road EnfieldRoad Enfield
1.1%
Road Ritson Road Ritson Ritson Road Road RitsonRoad
Vacancy Rate
777 7 Highway Highway 7 Highway Highway Highway 407 407 407 Highway 407 407 Highway Highway Highway 407
Road Road Columbus Columbus Road Columbus Columbus Columbus Road
South South Harmony RoadSouth Road HarmonyRoad Harmony Harmony
0
Road ter Road ter ter Winches rrr Road Winches Winches Wincheste Wincheste Wincheste
North North RoadNorth Road ThorntonRoad Thornton Thornton North North Road Road Thornton Thornton Thornton
22,611
Street Street Simcoe Simcoe SimcoeStreet Street Street Street Simcoe
Net Absorption
MA MA
E E Road Myrtle Road Myrtle Myrtle RoadE E E Road Myrtle Myrtle Myrtle N N N Road Road Road ThicksonRoad Thickson Thickson N N RoadN Road Thickson Thickson Thickson
1,550,088
Ridge Road Lake Road Lake RidgeRoad Road LakeRidge Ridge Ridge Lake Lake
1,550,088
Road Road Westney WestneyRoad Road Road Westney Westney
Office Inventory*
Trend
Road Brock Brock Road Brock Road Road Brock BrockRoad
Q1 2010
Line Line amLine am York-Durh York-Durh Line am York-Durham York-Durh York-Durh
Q4 2009
Average Additional Rent
Q1-10
King King King Street Street StreetWest West West Street West King King King Street West
Street Street Street Bayly BaylyStreet Street Street Bayly Bayly Bayly
55
10 10
kilometers kilom kilometers eters
L AK E ONT AR IO
AVAILABLE SPACE OPTIONS Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
70,000
70%
60,000
60%
50,000
50%
40,000
40%
30,000
30%
20,000
20%
10,000
10%
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
4
8
4
2
1
0
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q1 2010 TOP Office Lease Transactions by Size Address
0 Q1 2009
Q2 2009
Q3 2009
Q4 2009
Not Avail. Office Space
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Tenant
Landlord
TOP Office Sale Transactions by Price Date
Q1 2010
Sq. Ft.
No transactions were recorded during this period
0% Q4 2008
$30
Suite
Gross Rent
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
1,000,000 1 000 000
$27.02
900,000 $25
800,000 700,000 $21.50
600,000
$15
500,000 400,000
$10
200,000 100,000
$-
Class A
Class B
Professional Services 7%
Data,Publishing, Broadcasting Services 8% Manufacturing & Distribution 13%
300,000
$5
Finance 5%
Sq. Ft.
Gross Rent $/Sq. Ft.
$20
Class C
Public Service & Private Sector Services 66%
Others 1%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
Asking Net Rent
Address
Vacancy Rate
$13.70
5.0%
9
3.0%
7 5
2.0% 1.1%
3
1.0%
1 -1
Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
Sq. Ft.
Anchor Tenant
Est. Com.
SUBMARKET CHARACTERISTICS
4.0%
11
Developer
No construction took place during this period
13
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
15
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
* This submarket is part of Durham Region and therefore the most eastern office submarket of the GTA with considerably lower real estate costs than in more central areas in the GTA. * One of the smallest office submarkets with a very limited amount of space options for traditional office space users as key sectors in this area are advanced manufacturing, agribusiness, energy and tourism. * Area is home to large amount of skilled labour force. * Large supply of land resources offers up design-build opportunities.
0.0%
-3 -5
-1.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Scarborough Town Centre
Q1-10
SUBMARKET INDICATORS
4,054,879
12.0%
$12.14
DO DO
Eglinton Eg linton lintonAvenue Avenue AvenueEast East East Eglinton Avenue East Eg Avenue East Eglinton Eglinton Avenue East
St. St. St.Clair Clair Clair Avenue Avenue AvenueEast East East
AVAILABLE SUPPLY SPLIT
TE TE
Sublease
Direct
Sublease as % of Total Available
700,000
00
9%
600,000
8% Square Feet
500,000
kilometers kilometers
AVAILABLE SPACE OPTIONS Number of units on the submarket by size brackets
6% 5%
300,000 200,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
72
13
9
10
2
0
# of units**
4%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
3%
RECENT TRANSACTIONS Q1 2010
2% 100,000
TOP Office Lease Transactions by Size
1% 0%
0 Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Address
Suite
Avail. Office Space
Not Avail. Office Space
Date
Address
Price
Vendor
Purchaser
$/PSF
No transactions were recorded during this period.
1,800,000
$22.97
1,600,000
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
$23 $23
1,400,000
$23.11
1,200,000
$22
1,000,000
Sq. Ft.
$22.87
Finance 16%
800,000
$22
Data,Publishing, Broadcasting Services 33%
600,000 $21 400,000 $21
Professional Services 6%
200,000
$20
-
Class A
Class B
Class C
Manufacturing & Distribution 4%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Others 4%
18 MONTH TREND Absorption
Asking Net Rent
Public Service & Private Sector Services 37%
Vacancy Rate
20.0%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
18.0%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
16.0% 12.0%
No construction took place during this period 14.0%
$10.80 12.0% 10.0% 8.0% Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
6.0% 4.0% 2.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Size
2,000,000
$24
21 19 17 15 13 11 9 7 5 3 1 -1 -3 -5 -7 -9 -11 -13
Tenant
Landlord
y Price TOP Office Sale Transactions by
Gross Rent
$24
Sq. Ft.
No transactions were recorded during this period
Q1 2010
GROSS RENT & AVAILABILITY BY BUILDING CLASS CLASS
Gross Rent $/Sq. Ft.
LAKE ONTAR IO
Danforth Danforth DanforthAvenue Avenue Avenue Avenue Danforth Danforth Danforth Avenue Avenue
7%
400,000
dd dd aaad oo ooaaa R R Ro R R nn nR nn to to ton ssto to to ggsss in ingg in in Kin KK KK
88
44
10%
Morningside Morningside MorningsideAvenue Avenue Avenue Avenue Morningside Morningside Morningside Avenue Avenue
$12.50
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 60 office buildings surveyed in this submarket.
MarkhamRoad Markham Markham Road Road Road Markham Markham Road Road
Average Additional Rent
McCowan McCowan McCowan Road Road McCowan McCowanRoad McCowan Road Road Road
$10.80
Avenue Pharmacy Pharmacy Avenue PharmacyAvenue Avenue Avenue Pharmacy Pharmacy
$11.42
11 11 1 00 00 01 44 44 40 yyy 4 a a ay ay ay w wa w w hh hhw ig igh H ig H ig Hig H H
Highway Highway 401 Highway 401 Highway 401 Highway 401 401 Highway 401
DM DM
Average Asking Net Rent
ST ST
East East East Avenue AvenueEast Avenue Sheppard Sheppard Sheppard East East Avenue Avenue Sheppard SheppardAvenue Sheppard
Midland Midland MidlandAvenue Avenue Avenue Midland Midland Midland Avenue Avenue
13.1%
CR CR
Finch FinchAvenue Avenue AvenueEast East East Finch Avenue East Finch Avenue East Finch Finch Avenue East
Birchmount BirchmountRoad Road Road Birchmount Birchmount Birchmount Road Road
Vacancy Rate
(97,362)
PO PO
Do Don Do nnn nVa Do Valle Va lle lle lley lley lley lley yy yy y Pa lle lle Pa Parkw Pa rkw Pa rkway rkw rkw ay ay ay ay
(114,920)
MA MA
Steeles SteelesAvenue AvenueEast East Steeles Avenue East Avenue East Steeles Avenue East Steeles Steeles
WS WS Highwa Hig Hig hway hw hw Hig Hig hwa ay ay hwa 404 404 404 yyy404 404 404
4,054,879
Trend
Avenue Avenue Avenue WardenAvenue Warden Warden Avenue Avenue Warden
Net Absorption
Q1 2010
Avenue Avenue Avenue ParkAvenue Park Park Avenue Avenue Victoria VictoriaPark Victoria Park Park Victoria Victoria Victoria
Office Inventory*
MAP OF SUBMARKET
Q4 2009
SUBMARKET CHARACTERISTICS *Compared to the City of Toronto as a whole, industry in Scarborough is similar in all labour force categories, save for manufacturing which is higher in Scarborough, and professional, scientific and technical services which are lower. *Submarket is well serviced by both public transportation and the 400 series highways. *Notable companies that have their headquarters in Scarborough include Toyota Canada Inc., Eli Lilly Canada Inc., Thomson Carswell, CTVglobemedia, Novopharm, Cinram, Honda Canada Inc., Royal Doulton, SKF, Alfa Laval, President's Choice Financial, Aviva, Yellow Pages, and Telus. * Submarket is home to the University of Toronto - Scarborough campus, as well as many other post-secondary campuses.
0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Proper
Office Submarket Dashboard: Toronto East SUBMARKET INDICATORS
Q1-10 MAP OF SUBMARKET
Q4 2009
Q1 2010
YS YS
Trend
DO DO
ClairAvenue AvenueEast East St.Clair St. St. Clair Avenue East St. Clair Avenue St. Clair East Avenue East
Vacancy Rate
3.6%
3.5%
Average Asking Net Rent
$8.77
$8.81
Average Additional Rent
$13.87
$13.88
DN DN
00
PapeAvenue Pape Avenue Avenue Pape Avenue Pape Pape Avenue
ST ST
Avenue Avenue Avenue Danforth Danforth Danforth Avenue Avenue Avenue Danforth Danforth Danforth
TE TE
East East East Street Street Street Gerrard Gerrard Gerrard East East Street East Street Gerrard Gerrard GerrardStreet
Road Road Kingston Kingston Road Road Kingston Kingston KingstonRoad
East Street Queen East Queen East Street Street Queen East Street Queen Queen StreetEast QueenStreet East East East East Boulevard East Boulevard East East Lakeshore Lakeshore Lakeshore Boulevard LakeshoreBoulevard Lakeshore Lakeshore
DE DE
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 21 office buildings surveyed in this submarket.
Coxwell Coxwell Avenue Avenue Coxwell Avenue CoxwellAvenue Coxwell Avenue
1,200
Don DonValley Don Valley ValleyParkw Don Don Parkw Valley Valley Parkway ay Parkw ay ay
(3,886)
Bayview Bayview BayviewAvenue Avenue Avenue Avenue Bayview Bayview Bayview Avenue
YB YB
Net Absorption
Bro BB BB ro roaaa aadd dd dvvv vie iew ie ie w w wAA Avvvveee en nuuu nn nn ueee e
1,337,300
Victoria Victoria VictoriaPark Park Park ParkAvenue Avenue Avenue Avenue Victoria Victoria Victoria Park Park Avenue Avenue
1,337,300
Avenue Avenue Avenue Donlands Donlands Donlands Avenue Avenue DonlandsAvenue Donlands Donlands
Office Inventory*
Avenue Woodbine Woodbine Avenue Woodbine Avenue Avenue Avenue WoodbineAvenue Woodbine Woodbine
O'Connor O'ConnorDrive Drive Drive O'Connor
1.5 1.5
33
LAKE ONTARIO
kilometers kilometers
AVAILABLE SUPPLY SPLIT
AVAILABLE SPACE OPTIONS
Sublease
Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
70% 70,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
21
3
0
4
0
0
60% # of units**
Square Feet
60,000
50%
50,000
40%
40,000
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q1 2010
30%
30,000
20%
20,000
10%
10,000
0%
0
TOP Office Lease Transactions by Size Address
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Not Avail. Office Space
Gross Rent
$25
Price
Vendor
Purchaser
Size
$/PSF
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
2,000,000 2 000 000 1,800,000
$23.74 $20
Finance 76%
1,600,000
$20.43
1,400,000
$15
1,200,000
$10
800,000
1,000,000
Sq. Ft.
Gross Rent $/Sq. Ft.
Address
No transactions were recorded during this period
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Tenant
Landlord
TOP Office Sale Transactions by Price Date
Q1 2010
Sq. Ft.
No transactions were recorded during this period
-10% Q4 2008
600,000 $5
Data,Publishing, Broadcasting Services Others 0% 1% Manufacturing & Distribution 5%
400,000 200,000
$-
$-
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Asking Net Rent
Address
Vacancy Rate
12
8 3.5%
6
2
1.0%
Q1 2009
Q2 2009
-4
Q3 2009
Q4 2009
Q1 2010
-1.0% -3.0%
-6 -8
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
SUBMARKET CHARACTERISTICS
5.0% 3.0%
4
Q4 2008
Professional Services 0%
No construction took place during this period
7.0%
Vacancy Rate
$8.81
10
-2
Public Service & Private Sector Services 18%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Absorption
Net Rent $/sf. / Absorption (10,000's)
Suite
*Submarket is primarily residential with extremely diverse areas such as GreekTown (Danforth), The Beaches, The Scarborough Bluffs, Chinatown East, Little India and The Portlands. *Area serviced by the Gardiner Expressway and the Don Valley Parkway on the Eastern border. Area is also serviced by the Bloor-Danforth Subway line, as well as multiple bus and streetcar routes allowing easy access to the Downtown and Financial Core. *Area will experience near-term economic benefits from Toronto's Waterfront redevelopment initiative, attracting new labour. *Construction of new Filmport facility will establish a film industry concentration on Toronto's waterfront.
-5.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
COLLIERS INTERNATIONAL
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GTA WEST MARKET AND SUBMARKET BOUNDARIES
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Our Knowledge is your Property 速 Colliers Macaulay Nicolls (Ontario) Inc., Brokerage and certain of its subsidiaries, is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies with over 240 offices throughout more than 50 countries worldwide. This document has been prepared by Colliers International for advertising and general information only. Colliers International does not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.
Office Market Dashboard: GTA West
Q1-10
MARKET INDICATORS
MAP OF MARKET
Net Absorption
122,451
362,822
Vacancy Rate
8.1%
8.2%
$15.23
Average Additional Rent
BR BR
4222 44 222777 7
BU BU
OV OV
AVAILABLE SUPPLY SPLIT
AVAILABLE SPACE OPTIONS
20 20
Sublease as % of Total Available
Number of units on the regional market by size brackets
Total Available Office Space: 15285487 sf
45% 40%
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
351
189
114
115
16
15
# of units**
35%
4,000,000
30%
Available Sublease 20%
3,000,000
25%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q1 2010
20%
2,000,000
TOP Office Lease Transactions by Size
15%
Available Direct 80% 1,000,000
Address
Suite
Sq. Ft.
Landlord
Tenant
6509 Airport Road
100
60,000
Crown Realty Partners
Lafarge
6509 Airport Road
200
30,000
Crown Realty Partners
Lafarge
10% 5%
0
0%
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
TOP Office Sale Transactions by Price
GROSS RENT & AVAILABILITY BY BUILDING CLASS Not Avail. Office Space
Avail. Office Space
Gross Rent
$28.42 $21.63
20,000,000
$20 15,000,000
Address
Price
Vendor
Purchaser
Size
$/PSF
West Metro Corporate Centre
$128,500,000
TransGlobe
Whiterock REIT
613,000
$210
2/12/2010
Valhalla Executive Centre
$59,750,000
TransGlobe
Whiterock REIT
327,000
$183
2/12/2010
2810 Matheson Boulevard East
$25,750,000
TransGlobe
Whiterock REIT
128,924
$200
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
Sq. Ft.
Gross Rent $/Sq. Ft.
Date 2/12/2010
25,000,000
$25.83
$25
$15 10,000,000
Data,Publishing, Broadcasting Services 15%
$10 5,000,000
$5
$Class B
Class C
Professional Services 19%
Manufacturing & Distribution 30%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
Asking Net Rent
Others 3%
Vacancy Rate
17
$15.30
15
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
8.0%
8.2%
13
7.0%
11 9
Public Service & Private Sector Services 15%
9.0%
Address
Developer
2465 Argentia Road
Sq. Ft.
Anchor Tenant
5550 Explorer
First Gulf Corporation & Sun Life
250,000
BMO
Q1 2010
HOOPP
227,000
N/A
Q4 2010
2050 Derry Road West
Great West Life
125,700
Shaw Communications Inc.
Q1 2010
Est. Com.
6.0%
7
5.0%
5 4.0%
3 1
3.0% Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
2.0%
-3 -5 -7
1.0% 0.0%
Vacancy Rate
Net Rent $/sf. / Absorption (100,000's)
Finance 18%
Class A
-1
444 4000 4 007 777 7
50%
5,000,000
$30
4 40 44 44 0111 00 00
HB HB
CV CV
LAKE ONTARIO
kilometers kilometers
6,000,000
Square Feet
10 10
QEW QEW QEW QEW QEW QEW
Way th th Way eth eth Way Way Elizabe th Way Elizab Elizabeth Elizab Queen Elizabe Queen Queen Elizabe
00
Sublease
St S S St S S
AE AE
MC MC
SW SW
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 701 office buildings surveyed in this market.
Direct
AW AW AC AC
3 403 3 40 40
407 407 407
444000 3 33 33 3
$11.37
HH HH
MV MV
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$15.30
$10.98
401 401 401 401 401 401
4400 4 004 44
46,817,106
44444400 000000
46,235,849
DVP VP VP DVP VP VP
Office Inventory*
Average Asking Net Rent
Trend 410 410 410
Q1 2010
High High High way Highway High High 6 6 way6 way 6 6 6
Q4 2009
MARKET CHARACTERISTICS * Well connected to Lester B. Pearson International Airport; close commute to Hamilton's John C. Munro International Airport which is Canada's #1 freight airport. * Lower real estate costs than in the core (City of Toronto) * Great proximity to diversified suburban labour pool which is educated with 10 universities and 11 colleges within commuting distance. * Market area is home to 24.6% of the GTA office space and 43.5% of industrial inventory supported by a population of approximately 1.463 million. * Area is home to many top 100 companies, including: Deloitte & Touche LLP, Morguard Investments, and the Canadian headquarters of the Ford Motor Company.
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge g is yyour Propertyy
Office Submarket Dashboard: Airport Corporate Centre SUBMARKET INDICATORS
Q1-10
MAP OF SUBMARKET
Q4 2009
Q1 2010
Office Inventory*
5,508,681
5,737,181
Net Absorption
(28,043)
16,665
Vacancy Rate
16.3%
15.9%
Average Asking Net Rent
$17.22
$16.96
Average Additional Rent
$11.73
$12.01
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ee e ee rivvvvvve D D Driri teD te te te llite te lli llilli te telli te aate S Saa S S
Direct
11
HB HB
70%
Total Available Office Space: 15285487 sf 1,200,000 1,000,000 Available Sublease 27%
800,000 600,000
Number of units on the submarket by size brackets
Sublease as % of Total Available
1,400,000
Square Feet
0.5 0.5
AVAILABLE SPACE OPTIONS
Sublease
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
47
40
23
27
4
3
60%
# of units**
50%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
40%
RECENT TRANSACTIONS Q1 2010 TOP Office Lease Transactions by Size
30%
400,000
20%
Available Direct 200,000 73% 0
10%
Address
Suite
5255 Orbitor Drive,
500
Q3 2009
Q4 2009
Q1 2010
Avail. Office Space
Not Avail. Office Space
Gross Rent
Sq. Ft.
Landlord
Tenant
14,771
Connexim Network Management
G4S Securities
TOP Office Sale Transactions by Price
0% Q2 2009
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
2/12/2010
2810 Matheson Boulevard East
$25,750,000
TransGlobe
Whiterock REIT
128,924
$200
GROSS RENT & AVAILABILITY BY BUILDING CLASS $35
Highway Highway 427 Highway 427 Highway 427 Highway 427 427
dd oooa aa add R R R R Rooo ie ie ie ieR ix ix ix ix ixie D D D D Dix
00
kilometers kilometers
AVAILABLE SUPPLY SPLIT
Q1 2009
AC AC
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AW AW
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 79 office buildings surveyed in this submarket.
Q4 2008
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OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES 3,500,000 3 500 000
$31.87 $29.12
$30
3,000,000 $23.48
2,500,000
$20
2,000,000
$15
1,500,000
$10
1,000,000
$5
Sq. Ft.
Gross Rent $/Sq. Ft.
$25
Finance 7%
Data,Publishing, Broadcasting Services 44%
Professional Services 15%
500,000
$-
Public Service & Private Sector Services 22%
Class A
Class B
Manufacturing & Distribution 1%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Others 11%
18 MONTH TREND Absorption
Asking Net Rent
Vacancy Rate
TOP PROJECTS UNDER CONSTRUCTION BY SIZE 18.0% 16.0%
30
15.9% 14.0%
20
$16.96
10
12.0% 10.0% 8.0%
Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
6.0%
-10 4.0% -20 -30
2.0%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
5550 Explorer Drive
HOOPP Realty Inc.
240,850
N/A
Q2 2010
SUBMARKET CHARACTERISTICS Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
40
* Office Business Park with great highway accessibility and exposure allowing great signage opportunities * Provides state-of-the-art facilities to businesses seeking to locate near Pearson International Airport - proximity to Lester B. Pearson International Airport and an abundance of close-by hotels allow for easy corporate travelling * Lower real estate costs than in the core with just a 15 minute drive from downtown Toronto. * Top five employers are Accenture Inc., Bell Distribution, Carlson Marketing Group Canada, Chubb Security Systems, Citigroup and Emergis * Employess have access to 10 major universities and 11 technical colleges within commuting distance * Centennial Park south of Eglington Ave W offers close-by golfing at Centennial Park Golf Centre
0.0%
Source: Colliers International, Q1 2010
Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Airport East MAP OF SUBMARKET Q1 2010
(4,932)
Vacancy Rate
16.6%
15.3%
Average Asking Net Rent
$13.62
$12.97
Average Additional Rent
$11.13
$11.75
DF DF
AE AE
Road Road Road Grove Grove Grove Martin Martin Martin Road Road GroveRoad Grove MartinGrove Martin Martin
(23,151)
427 427 427 yy yy y427 427 427 hwa hwa hway Hig Hig Highwa hwa hwa Hig Hig Hig
Net Absorption
BR BR ddd d aaa ad ooo oa R Ro R R rtrtrt rtR oo ort pp pp po irir irir irp A A Air A A A
4,113,266
0 00 00 10 11 11 41 44 4
4,113,266
West West Steeles AvenueWest Avenue Steeles Avenue West Steeles Avenue West Steeles Avenue Steeles
AAAlb lb lb lbio io ionnn io nR R R Rooo ooa addd aa aa dd
ayyyy aa aa wa w w w w hw hh hh igh ig ig ig ig Hig H H H H H
Office Inventory*
407 407 407 Highway 407 Highway 407 Highway Highway Highway
Trend
R R Reee R exxxxxddd ddaaaaaale le leBB le le BBBooooouu uuule le levvv le le vvaaaaarrr rd dd drd rd
401 401 Highway Highway Highway 401 Highway 401 Highway Highway
AW 00
33
66
HB HB
kilometers kilometers
Avenue West West Avenue West Eglinton Eglinton EglintonAvenue West Avenue
S SS S
AVAILABLE SUPPLY SPLIT
AVAILABLE SPACE OPTIONS
Sublease
900,000
Direct
70%
Total Available Office Space: 15285487 sf
700,000 Square Feet
Number of units on the submarket by size brackets
Sublease as % of Total Available
800,000
600,000
Available Sublease 20%
500,000 400,000
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
56
29
38
4
1
1
# of units**
50%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
40%
RECENT TRANSACTIONS Q1 2010
20%
TOP Office Lease Transactions by Size Address
Suite
Date
Not Avail. Office Space
Gross Rent
Price
Data,Publishing, Broadcasting Services 9%
2,000,000
$24.09
1,500,000
$19.10
Sq. Ft.
Gross Rent $/Sq. Ft.
$20 $15
Vendor
Purchaser
1,000,000 $10
$-
$/PSF
Finance 8%
Manufacturing & Distribution 40% Professional Services 25%
500,000
$5
Size
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
2,500,000 2 500 000 $27.92
Address
No transactions were recorded during this period.
GROSS RENT & AVAILABILITY BY BUILDING CLASS $30
Tenant
Landlord
TOP Office Sale Transactions by Price
0% Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
Sq. Ft.
No transactions were recorded during this period.
10%
0
$25
0 - 4k sf
60%
30%
300,000 Available Direct 200,000 80% 100,000
Avail. Office Space
KH KH
409 409 409 yy yy y 409 Highwa Highway 409 409 Highwa Highwa Highwa
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 70 office buildings surveyed in this submarket.
1,000,000
We We We ston ston Weston We We stonRoa ston ston Roa Roa Road Roa Roa d dd dd
Q4 2009
Highwa Hig Hig hway hwa Hig Hig hwa y400 yyy hwa 400 400 400 400
SUBMARKET INDICATORS
Q1-10
Class A
Class B
Class C
Others 1%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Public Service & Private Sector Services 17%
18 MONTH TREND Absorption
Asking Net Rent
15
15.3%
10
$12.97
5
Q2 2009
Q3 2009
Q4 2009
Q1 2010
10.0% 8.0%
-10 -15
Anchor Tenant
Est. Com.
SUBMARKET CHARACTERISTICS
14.0%
6.0%
-20
4.0%
-25
2.0%
-30
0.0%
Vacancy Rate
Q1 2009
Sq. Ft.
16.0%
12.0% Q4 2008
Developer
No construction took place during this period.
-5
Address
18.0%
20
Net Rent $/sf. / Absorption (10,000's)
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Vacancy Rate
*Highly industrial area with great highway accessibility and exposure allowing great signage opportunities * Provides state-of-the-art facilities to businesses seeking to locate near Pearson International Airport - proximity to Lester B. Pearson International Airport and an abundance of close-by hotels allow for easy corporate travelling * Lower real estate costs than in the core with just a 15 minute drive from downtown Toronto. * Employess have access to 10 major universities and 11 technical colleges within commuting distance * Quick highway access to the North and West sides of the GTA * Close to large supply of affordable labour markets
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Airport West SUBMARKET INDICATORS
MAP OF SUBMARKET
4,490,927
Net Absorption
88,637
34,496
Vacancy Rate
3.9%
4.1%
Average Asking Net Rent
$12.14
$12.43
$8.92
AVAILABLE SPACE OPTIONS
AE AE
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d dd dd ad aa aa oa oo oo Ro R R R R ieR ie ie ie ie ixie ix ix ix ix Dix D D D D D
Average Additional Rent
BR BR H H HH HH iiigigggh hhhwww waaaa yyyy 4 444000 0777777
4,490,927
Trend
427 427 ay 42777 42 42 ay hw ay 427 ay hw Hig hway hw Hig Hig Highw
Q1 2010
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Q4 2009
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Office Inventory*
Q1-10
$9.21
Number of units on the submarket by size brackets
# of units**
0 - 4k sf
28
4k - 10k sf
16
10k - 20k sf
3
20 - 50k sf
0
50k - 100k sf
0
100k sf +
0
AW AW
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 57 office buildings surveyed in this submarket.
350,000
Direct
Sublease as % of Total Available
50%
250,000
35%
200,000
30% 25%
150,000
20%
100,000
15%
00
11
22
kilometers kilometers kilometers
TOP Office Lease Transactions by Size Address
Tenant
Landlord
TOP Office Sale Transactions by Price
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Date
Q1 2010
Address
Not Avail. Office Space
Avail. Office Space
Purchaser
Data,Publishing, Broadcasting Services 8%
3,000,000 2,500,000
$22.16
Vendor
Size
$/PSF
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
Gross Rent
$23.45
$25
Price
No transactions were recorded during this period.
GROSS RENT & AVAILABILITY BY BUILDING CLASS
Finance 22%
2,000,000
$20
$16.54 1,500,000
$15
Sq. Ft.
Gross Rent $/Sq. Ft.
Sq. Ft.
No transactions were recorded during this period.
0% Q4 2008
Manufacturing & Distribution 39%
1,000,000
$10
500,000
$5 $-
Professional Services 12% Others 5%
Class A
Class B
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Address
Asking Net Rent
34 29
7.0%
24
6.0% $12.43
4.0%
9 4.1%
3.0%
-1 -6
5.0%
Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
-11 -16
2.0%
Vacancy Rate
19
4
Sq. Ft.
Anchor Tenant
Est. Com.
SUBMARKET CHARACTERISTICS
Vacancy Rate
8.0%
14
Developer
No construction took place during this period.
18 MONTH TREND Absorption
Public Service & Private Sector Services 14%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Net Rent $/sf. / Absorption (10,000's)
Suite
5%
0
$30
** Counting smallest divisible units in existing buildings and buildings under construction.
MC MC
RECENT TRANSACTIONS Q1 2010
10% 50,000
HB HB
3 33 33 03 00 00 40 44 44 4
40% Square Feet
ayyyyyy aa aa wa w w w w hw hh hh igh ig ig ig ig Hig H H H H H
45%
300,000
AC AC
ssstttt EEaaaaass EE E uueeeee eennnnuuu vvvvvveee A A A A A A ooonnnnnn in in inttttottoo in llin gggllllin EE EE E Eggg
HH HH
Sublease
Highway Highway 427 Highway 427 427 427 Highway Highway 427
AVAILABLE SUPPLY SPLIT
s ss ss ss sss res re pre re re xp ppp Ex xxx E E E 111 E 0001 4440 yyy 4 w wa aaay w w w hhhw igh ig H ig Hig H H
* Submarket contains Lester B. Pearson International Airport and an abundance of close-by hotels allow for easy corporate travelling * Highly industrial area with great highway accessibility and exposure allowing great signage opportunities * Provides state-of-the-art facilities to businesses seeking to locate near Pearson International Airport * Lower real estate costs than in the core with just a 15 minute drive from downtown Toronto. * Employess have access to 10 major universities and 11 technical colleges within commuting distance * Quick highway access to the North and West sides of the GTA * Close to large supply of affordable labour markets
1.0% 0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate becomes available. t iinformation f ti b il bl
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Highway 427/Bloor-Islington
Q1-10
SUBMARKET INDICATORS
MAP OF SUBMARKET
Office Inventory*
4,530,266
4,530,266
Net Absorption
(17,166)
41,167
401 401 Highway Highway 401 Highway
Trend
West West Avenue AvenueWest Lawrence West Lawrence Avenue Avenue Lawrence LawrenceAvenue
6.4%
5.4%
$12.70
$12.59
HB HB
$14.93
West West West Bloor Street Bloor Street Bloor Street StreetWest West West Bloor Bloor Street Bloor Street
MC MC
AVAILABLE SUPPLY SPLIT Sublease
Queensway Queensway The TheQueensway The Queensway Queensway Queensway The The The
Direct
Sublease as % of Total Available
450,000 Total Available Office Space: 15285487 sf
45%
tthhhh bbbbbbeeeett ziz zzaaaaaa llilliiz iz iz iz liiz EE Ell nnnn E e e eeeeee 00Q 1.5 1.5 Quuuu 1.5 QQ
33
35%
L A KE ONT A RIO
250,000 200,000
58
4k - 10k sf
25
10k - 20k sf
7
20 - 50k sf
1
50k - 100k sf
1
100k sf +
1
** Counting smallest divisible units in existing buildings and buildings under construction.
Suite
Sq. Ft.
Landlord
Tenant
n/a
8,960
Transglobe Com.
n/a
20%
150,000
15%
401 The West Mall
TOP Office Sale Transactions by Price
10%
50,000 Available Direct 071%
5%
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
2/12/2010
West Metro Corporate Centre
$128,500,000
TransGlobe
Whiterock REIT
613,000
$210
0%
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
Gross Rent
$35
2,500,000 2 500 000 $29.89
$30 2,000,000
$25.31 $24.85
$20
1,500,000
$15
Sq. Ft.
$25 Gross Rent $/Sq. Ft.
0 - 4k sf
TOP Office Lease Transactions by Size
25%
100,000
Finance 26%
Data,Publishing, Broadcasting Services 23%
Professional Services 19%
1,000,000
$10 500,000
Manufacturing & Distribution 10%
$5 $-
Class A
Class B
Others 1%
Public Service & Private Sector Services 21%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
18 MONTH TREND Absorption
Asking Net Rent
Address
Vacancy Rate
14
$12.59
8.0%
12 6.0%
10 5.4%
8 6
4.0%
4 2
2.0%
-2
Q4 2008
Q1 2009
Q2 2009
-4
Q3 2009
Q4 2009
Q1 2010
0.0%
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
# of units**
RECENT TRANSACTIONS Q1 2010
30%
Available Sublease 29%
Number of units on the submarket by size brackets
W Blvd W Blvd W Blvd Lake Shore Lake Shore Lake Shore BlvdW W Blvd W LakeShore ShoreBlvd Lake Lake Shore
40%
300,000
AVAILABLE SPACE OPTIONS
Gardiner Expressway Gardiner Gardiner Expressway Expressway Expressway
aaaaaayyyy W W W W
kilometers kilometers kilometers
350,000 Square Feet
CV CV
50%
400,000
TW TW Street Street KeeleStreet Keele Keele Street Street Keele Keele Keele
$14.23
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 70 office buildings surveyed in this submarket.
Jane Street Jane JaneStreet Street Street Jane Jane Jane Street Street
Average Additional Rent
AC AC
West West Avenue AvenueWest Eglinton Eglinton West Avenue Eglinton West Avenue Eglinton Avenue Eglinton
Avenue Avenue Kipling Kipling Avenue Kipling Kipling KiplingAvenue Avenue Avenue
Vacancy Rate
427 Highway Highway Highway 427 427 427 Highway Highway Highway
1 11 401 40 40 y 40 yy 40 way wa wa gh wa ghwa High Hi Hi Hi Hi
Average Asking Net Rent
KH KH
AE AE
Royal Royal RoyalYork York YorkRoad Road Road York Road Royal Royal Royal York Road
Q1 2010
Islington Islington Islington Avenue Avenue Avenue Avenue Islington Avenue IslingtonAvenue Islington
Q4 2009
SUBMARKET CHARACTERISTICS * Less dense submarket between the Central Area of the GTA and the Suburban municipalities of Mississauga and Brampton. * Proximity to those denser areas, public transit lines (subway, GO Train, bus routes), access to several major highways routed through the submarket and proximity to the airport allows for easy in-and-out of the office and acceptable commutes for employees and customers. * Majority of the office building are located along Bloor Street and the Hwy 427 corridor and were built prior 1992. * Lower parking rates than in more dense office submarkets in the GTA.
-6 -8
-2.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Brampton
2,357,538
2,398,742
7,602
5,378
$4.65 00
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 29 office buildings surveyed in this submarket.
Sublease as % of Total Available
80% 70%
Square Feet
60%
Number of units on the submarket by size brackets 0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
14
7
1
2
1
1
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q1 2010
50% TOP Office Lease Transactions by Size
40%
60,000
30%
Available Sublease 0%
40,000 20,000
Address
20%
Suite
Sq. Ft.
Tenant
Landlord
No transactions were recorded during this period.
10%
0
TOP Office Sale Transactions by Price
0% Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Date
Q1 2010
Address
Avail. Office Space
$16.87
Not Avail. Office Space
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period.
GROSS RENT & AVAILABILITY BY BUILDING CLASS Gross Rent
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
1,600,000 1 600 000
$17.64
1,400,000
$16
Data,Publishing, Broadcasting Services 50%
$12
1,000,000
$10
800,000
$8
600,000
$6
Sq. Ft.
1,200,000
$14 Gross Rent $/Sq. Ft.
West West West Avenue Avenue West Avenue Eglinton Eglinton Eglinton West West Avenue Avenue Eglinton Eglinton Eglinton Avenue
AC AC
HH HH
40 40 40111 40 40 ay ay ay yyy 40 w w w wa wa gh gh gh Hi Hi Hi gh ghwa Hi Hi High
100% 90%
Total Available Office Space: 15285487 sf
100,000 Available Direct 80,000 100%
$18
401 401 401 Highway 401 Highway 401 Highway Highway Highway
AW AW
AVAILABLE SPACE OPTIONS Direct
120,000
$20
AE AE
ii D D D D D Di
140,000
uuueeeee eeennnnnu AA AAvvvvvee sA le le lesss le eele te te teeee te te SS SS Ste S
10 10
kilometers kilometers
AVAILABLE SUPPLY SPLIT Sublease
55
77 77 07 00 00 40 44 44 yyy 4 aa aayyy w wa w w w hhhw ig ighhh H H Hig
427 427 427 yy y 427 427 427 hwa hwa hway Hig Hig Highwa hwa hwa Hig Hig Hig
$12.26
L LL L
dd dd aad oo ooaaa Ro R rtrt rtrt R oort pp ppooo iririrp A A A A A Airirir
Guuu G G G ue elp lphhh lp ee ee lp lp lp hhh S Str S S S trtre ee etttttt ee ee ee ee
000 0 111 10 4441 aayyyyy44 w w waa w hhw ig ig ig ighh H H H H Hig
$4.26
1.7%
h rtrtrthhh Noo rt N dddN oo oo oaaa R Ro R lililinnn gg gg ghh uuug LLLaaa M Mcc M
Average Additional Rent
$12.02
eee iv viv vveee rrriv D D D Dririri D D irir iririrdddddd aaair ooovvvvvvaaa BB BB B Booo
aaaddddd Rooooooaaa R R R R dddR forrrrrrddd fo fo fo rrfo eeerrrfo th th th th th theee Ruuuuuu R R R R R
sssttttt eeeeeesss W W W W W tttW eeeeeettt trtrtreeeee SS SS Strtr eeennnnnn uuueeeeeeeee Q Q Q Q Q Quuu
BR BR d addd oaaa Rooo R R yR edddyyy nn neee nnn ennn KKKeee
2.0%
Average Asking Net Rent
ddd ooaaaaad R R Rooo R ld ldR ld fififieeeeld aaayyyyyfifi M Maaa M M M M
aaad dd dd d oo oo oaaa Ro R R aaaR gg gaaa uug aaa sssa auuu is is is issss ssis is is is issss M Mis M rd rd aaard rd rd rd le levvvvvvaaa le le le ule uu uu ou oo B Boo llB B B hhhililililillll rc rc rch rc huu urc uu C C Chh C nnnC to to tonn to sssto in in in inss W W W Win W
Vacancy Rate
Trend
ddd ooa aa addd aa R R R R Roo oort rtrt rtrt rtR iririrp pp pp poo A A A A A Airirir
Net Absorption
Q1 2010
dd aa aaddd oooa R R Rooo R R aaaR le le le le leaaa aaale m m m m maaa ra ra ra ra ram B B B Bra B B dd dd d aa aa ad oo oo oa R R Ro R R ie ieR ie ie ix ixie ix ix D Dix D D D
Office Inventory*
MAP OF SUBMARKET
Q4 2009
Hig Hig Hig hwa hwa Hig Hig Highwa hwa hwa hway 400 400 yy yy y 400 400 400 400
SUBMARKET INDICATORS
Q1-10
Finance 2%
400,000
$4 $-
$2
200,000
$-
Manufacturing & Distribution 22%
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Others 0%
Public Service & Private Sector Services 22%
Professional Services 4%
18 MONTH TREND Absorption
Asking Net Rent
Vacancy Rate
$12.26
Address 2.0%
1.7% 5
1.5% 1.0% 0.5%
Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
0.0% -5 -0.5% -10
-1.0%
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
10
SUBMARKET CHARACTERISTICS Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
2.5%
15
* Small office submarket in size with a traditionally low vacancy rate.
* 3rd largest population agglomeration in the Greater Toronto Area. * Sectors of strength inlcude automotive, food&beverage, telecommunications, advanced machinery & equipment and consumer packaging. * This submarket offers immediate highway access (Hwy 400-series) and proximity to airport. * Brampton Transit's new project AcceleRide will bring rapid transit services to the community and connect with surrounding urban centres and commuter links. * Local post secondary college: Sheridan Institute of Technology and Advanced Learning 17 colleges and universities within a 80km radius. * Lower commercial tax rates than in the core (City of Toronto), competitive lease rates and land prices contribute to a business-friendly environment.
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal reported off publishing, however we acknowledge there may be over time h ithd l without ith t notice. ti All numbers b t d use the th mostt accurate t information i f ti available il bl att the th time ti bli hi h k l d that th t th b marginal i l changes h ti as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Burlington SUBMARKET INDICATORS
Q1-10 MAP OF SUBMARKET
4,236,224
Net Absorption
23,753
39,258
Vacancy Rate
6.5%
6.6%
Average Asking Net Rent
$14.71
$15.27
Average Additional Rent
$9.67
$9.78
OV OV
eettttt ee eee ee trtre SSStrtr assssssSSS aa aa da dd dd nd nn nn un uu uu Du D D D D D
aaaaddd RRRoooo R rrreeee hhhooooorr eessssshh kkkkkeee LLLLaaaaa
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 78 office buildings surveyed in this submarket.
Direct
Sublease as % of Total Available
AVAILABLE SPACE OPTIONS Number of units on the submarket by size brackets
Square Feet
30% 400,000
25%
300,000
20% 15%
200,000
10% 100,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
58
30
16
11
0
2
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q1 2010 TOP Office Lease Transactions by Size
5% 0%
0 Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Address
Q1 2010
1,709.00 20,358.00
$30
2,000,000 $22.12
Pioneer Petroleums Limited Partnership
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period. OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
1,600,000 $18.00
Data,Publishing, Broadcasting Services 7%
1,400,000
$20 $15
1,000,000
Sq. Ft.
1,200,000
Finance 20%
800,000 $10
600,000
Professional Services 23%
400,000
$5
Manufacturing & Distribution 31%
200,000 $-
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
Public Service & Private Sector Services 15%
Others 4%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Asking Net Rent
15
Address
Vacancy Rate
$15.27
7.0% 10
6.6%
5
5.0% 3.0% 1.0%
Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
-1.0%
-5 -3.0% -10
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction occurred during this period.
9.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Decision Labs Inc.
Westbury International (1991) Corporation
1,800,000
$25
Gross Rent $/Sq. Ft.
Date
Gross Rent
$27.84
Tenant
Burloak No.3 Investment Limited
TOP Office Sale Transactions by y Price
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Landlord
Sq. Ft.
1100 Burloak Dr. 1122 International Blvd.
Not Avail. Office Space
LAKE ONTAR IO
40% 35%
500,000
W W W W W EW EE EE QE Q Q Q Q Q
ssstttttt
aaasss 3 333 EE EE Eaaa 03 000 dddE 4440 aa addd oooaa R R R ayyy44 R Rooo aaa sssR wa w w w w in insss in la la lain ig ighhh la PPla PP Hig H H P H H
AVAILABLE SUPPLY SPLIT Sublease
y aaaaaayy W W W W W thhhW tth tth th bbbeeeeee zaaabb EElililizz EE ennnn e e e e e e e uu Q Q Quuu Q Q
eeetttttt trtrtreeeeeeeee S SS Strtrtr SS w w w w w eeew N N N N Neee N
BU BU
600,000
ee vve e riri rivv riri DDri aaakkkk DD rlrlrlo oo oo oaaa uu urlrlrl BBBu
4,236,224
ee e ine in in in LLin byyyyyLLL bbb leb le le ple le pp le pp pp pp pp Ap AA A
Office Inventory*
777 444000 yyy444 w waaaaaa w w w w ig ighhh H Hig H H H H
Trend
e ee ee ine in in in in LLLin rsLLL rs rs rs ers rs ee lk lke lk aa lk alk lk aa W Wa W W
Q1 2010
e ee ee ine in in Lin LL LL in in hL hh hh lph lp lp elp ee lp lp ue uu Gu G G G G G
Q4 2009
SUBMARKET CHARACTERISTICS * Located at the hub of the Golden Horseshoe with easy major highway access and close proximity to Hamilton's John C. Munro International Airport (Canada's number one freight airport) * Burlington's economy is largely driven by both the financial and the automotive sector * Resilient local economy that employs a variety of talent * Local post secondary college and university resources (e.g. McMaster University) are within commuting distance * Many head office operations, but also a competitive location for back office operations
-5.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. reliable We have no reason to doubt its accuracy but regret we cannot guarantee it. it All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Cooksville SUBMARKET INDICATORS
Q1-10 MAP OF SUBMARKET
1,814,322
1,814,322
Net Absorption
19,931
(824)
Vacancy Rate
6.7%
6.3%
Average Asking Net Rent
$14.29
$13.76
427 427 Highway Highway 427 Highway
Office Inventory*
Trend
MC MC 33 000333 yyyyy44444 ttt eeessssttt w waaaaa w w w W Weee W W W W ig ighhhhh ig aaadddddd H H Higig HH RR Rooooooaaa R eeeRR pppeee ooorrrrprrpp th thooo th m mth m m m hhhaaaaaam rn rn nrn nnhhh Buuuuuurrr BB BB B
eetttt ee eee ee trtre trtr Str SS SS ooS ririo oo ta taririri nnnta ta ta ro ronnn uro ro ro H H Huu H H
yyy w waa rk rk rkw PPaaa ls ls ls ililills M Mililil nnnM rin EE E Eririri EE
ttt eeeeeeeett treee SStrtrtr ssssSSS ddddaaaa uuunnnn D D D D D Du
CV CV
Average Additional Rent
$11.16
$11.52 00
Sublease
2.5 2.5
ee in in in inee L in Lin LLL th th th th 9 99 99 9th
AVAILABLE SUPPLY SPLIT
Gardiner Gardiner Expressway Gardiner Expressway Gardiner Expressway Gardiner Expressway Expressway
aaayyyyyy W Waaa W tththhhhh bbbeeeeeettt aaaaaabbb lililizzzzzz nnnnnEEE n e e e e e e ueee Q Q Q Q Q Quu
ssssssttttt EEaaaa dddEEE oooaaaaaaddd RRR Rooo rrerreeeee hhhhooooo s s s s kkkeeee LLLLLaaaak
SW SW *Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 37 office buildings surveyed in this submarket.
HB HB
d dd add aa oaa oo Roo ieRR ie ie ie ix ixie ix D Dix D D
Q1 2010
ddd addd aa oooa aa R R R Rooo R R ra ra ra ra ra th th th thra th w w w wth w aaaw C C C C C C
Q4 2009
LAKE ONTARIO
55
kilometers kilometers
W W EEE EW Q Q QE Q Q Q
AVAILABLE SPACE OPTIONS Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
10% 140,000
9% 8%
Square Feet
120,000
7%
100,000
6% 80,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
20
7
6
1
0
0
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q1 2010
5%
60,000
TOP Office Lease Transactions by Size
4% 3%
40,000
Address
2% 20,000
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Date
Q1 2010
Address
Not Avail. Office Space
Gross Rent
$35 $29.04
900,000
$30
Data,Publishing, Broadcasting Services 2%
$25
700,000
$20
600,000 500,000
$15
400,000
Sq. Ft.
800,000
$16.50
Vendor
Purchaser
Size
$/PSF
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
1,000,000 1 000 000 $29.29
Price
No transactions were recorded during this period
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Tenant
Landlord
TOP Office Sale Transactions by Price
0% Q4 2008
Sq. Ft.
No transactions were recorded during this period.
1%
0
Gross Rent $/Sq. Ft.
Suite
Finance 9%
Professional Services 16%
Manufacturing & Distribution 41%
300,000
$10
200,000 $5
100,000
$-
Others 6%
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Asking Net Rent
14 $13.76 10.0% 10 6.3%
8 6
5.0%
4 2
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
15.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Address
Vacancy Rate
16
12
Public Service & Private Sector Services 26%
SUBMARKET CHARACTERISTICS * This submarket represents the southern portion centre of the City of Mississauga where high urban density is encouraged * Largely residential area with extensive park and golf course networks * Well connected to Highway 400 series and Lester B. Pearson International Airport * Availability of highway exposure sites * Lower real estate costs than in the core (City of Toronto) * Great proximity to diversified labour pool which is fueled by multiple residential condominum developments
0.0% -2
Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
-4
-5.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Hurontario & Hwy 401
Q1-10
SUBMARKET INDICATORS
MAP OF SUBMARKET
Office Inventory*
3,249,275
3,249,275
Net Absorption
(29,505)
(73,085)
4.5%
5.0%
$13.13
$13.81
Average Additional Rent
$11.53
7 4440000007 ayyyyy waa w hhw ig ig igh H H Hig H
BR BR
ttt eeessssssttt Weee W W W W dddW oooaaaaadd R R Rooo R yyyR rrrrrrrrryy DD DDeeeee D d dd dd aa ad aa oo oa oo R R Ro R R is is isR is is aa aa avvvvvvis M M Ma M M M
Vacancy Rate Average Asking Net Rent
eee nnuuuuuueee vvveeeeeennn AA AA Avvv sssA le le le le le lesss eeeeeeee te tte tette te te SSte SS S
Trend
1 11 401 40 ay 40 ay ay ay hway hw ighw hw hw ig Hig ig H H
$10.78
Total Available Office Space: 15285487 sf
90%
00
MC MC
111 22 kilometers kilometers kilometers
Square Feet
Available Sublease 51%
250,000
70% 50%
150,000
40% 30%
100,000
10% Available Direct Q4 2008 49% Q1 2009 Q2 2009
0% Q3 2009
Q4 2009
Address
Suite
151 Courtneypark Dr
Not Avail. Office Space
Date
11
10k - 20k sf
6
20 - 50k sf
11
50k - 100k sf
6
100k sf +
2
** Counting smallest divisible units in existing buildings and buildings under construction.
Sq. Ft.
Landlord
Tenant
7,000
Gracious Living Innovations Inc.
Royal Medical
Price
Vendor
Purchaser
Size
$/PSF
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES Data,Publishing, Broadcasting Services 6%
2,500,000
$25
2,000,000
1,500,000
$20.13 $15
Sq. Ft.
$24.36
Finance 31%
Manufacturing & Distribution 41%
1,000,000 $10 500,000
$5
-
$Class A
Class B
Others 1%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Public Service & Private Sector Services 13%
18 MONTH TREND Absorption
Asking Net Rent
$13.81
12 10
7.0%
4 1.0%
2 -2
Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
-4
-1.0%
Vacancy Rate
3.0%
6
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
430 Courtneypark Dr E
Hallmark Design-Build
48,439
Typhon Group Ltd
TBD
SUBMARKET CHARACTERISTICS
5.0% 5.0%
8
Professional Services 8%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Vacancy Rate
14 Net Rent $/sf. / Absorption (10,000's)
4k - 10k sf
No transactions were recorded during this period.
$24.78
Gross Rent $/Sq. Ft.
0
Address
Gross Rent
$30
$20
16
TOP Office Sale Transactions by Price
Q1 2010
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
0 - 4k sf
TOP Office Lease Transactions by Size
20%
50,000
# of units**
RECENT TRANSACTIONS Q1 2010
60%
200,000
333 44440000333
tttttt eeeessssss W W W W W uuueeeee
80%
300,000
0
MV MV
Number of units on the submarket by size brackets
33 3 00 03 44 40 4
350,000
100%
aa ayyyy w wa w hh hw ig igh ig HH Hig H
Sublease as % of Total Available
aaad ddd oooaaa R Ro R lililinnnR ggh hhlililinn hh aauuuggg ccLLLaaauu M M Mccc M M
Direct
eettttt eee eeee trtre SS S Strtrtr ooS oio io ta tarrirrirriio ta nnta ta ooonnn rro uuu urro rro H Hu H H H
ttt essssssttt W Weee W W W dddW aaaaaaddd R RR Roooooo R ia ia iaR ia ia nnnnnnnnnnnia n a a a rrrititititititaa BB BB Brrr B
dd aad dd ooaa oo R Ro R R w w wR w w ie iew ie ie ititvvvvvie dd ddititit rre reeed re C C Crre C C
Sublease
400,000
AW AW
HH HH
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 38 office buildings surveyed in this submarket.
AVAILABLE SUPPLY SPLIT
AVAILABLE SPACE OPTIONS
dd dd ad aa aa oa oo oo Ro R R R R ieR ie ie ie ie ixie ix ix ix ix Dix D D D D D
Q1 2010
00 ddd 110 4 a 44 41 aa addd aa R R R aayy Rooo R wa w hw dddyyyyyyR ig ig nneeeddd ighh H nnn nnnn een HH Hig K K K K K Keee
Q4 2009
* Submarket is part of a diverse business community which includes many Fortune 500 headquarters and leading clusters in aerospace, automotive, biomedical, financial services, and information & communications technologies. * Provides companies with solid infrastructure in the heart of a major air, road and rail network. * Well educated talent pool, there are 10 universities and 11 colleges within commuting distance. * Lower commercial tax rates than in the core (City of Toronto), competitive lease rates and land prices contribute to a business-friendly environment.
-3.0%
-6 -8
-5.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time available. as more accurate information becomes available
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Mississauga City Centre Q1-10 SUBMARKET INDICATORS
MAP OF SUBMARKET
Vacancy Rate
5.2%
6.4%
Average Asking Net Rent
$17.38
$17.32
Average Additional Rent
$15.17
$15.44
HH HH
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 36 office buildings surveyed in this submarket.
AVAILABLE SUPPLY SPLIT Direct
500,000
20%
450,000
18%
400,000
16%
350,000
14%
ttt eeeeeessssssttt W W W W W dddW oooaaaaaaddd R R R Rooo R R ppeeeeee prrp rrp ooorrp th th th thooo th th m m m m m m a a a nnnhhhhhhaaa uuurrrrnrrnn B Buu BB BB
SW SW
1.5 1.5
00
Sublease as % of Total Available
G G G
eeettttt trtrtreeeeeeee Strtr SSS sssS dddaaaaass uuunnnnndd D D D Duuu D
33
kilometers kilometers kilometers
CV CV
AVAILABLE SPACE OPTIONS Number of units on the submarket by size brackets 0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
53
20
7
1
0
1
12%
250,000
10%
200,000
8%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
150,000
6%
RECENT TRANSACTIONS Q1 2010
100,000
4%
50,000
2%
# of units**
TOP Office Lease Transactions by Size Address
0% Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Suite
Avail. Office Space
Not Avail. Office Space
3,500,000 $28.77
2,000,000
$15
1,500,000
$10
1,000,000
Sq. Ft.
$20
Vendor
-
$Class C
18 MONTH TREND
Public Service & Private Sector Services 18%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE 10.0%
17
Address
15
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period
11
6.4%
9
6.0%
7 5
4.0%
3 1 2.0% Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010
-3 -5
0.0%
Vacancy Rate
8.0%
13
-1
Others 3%
Vacancy Rate
$17.32
19
$/PSF
Data,Publishing, Broadcasting Services 4%
Manufacturing & Distribution 14% Asking Net Rent
Size
Finance 34%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Absorption
Purchaser
Professional Services 27%
500,000
$5
Class B
Price
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES 2,500,000
Class A
Address
3,000,000
$25
$-
Tenant
No transactions were recorded during this period
$32.99 $30
Landlord
TOP Office Sale Transactions by Price Date
Gross Rent
$35
Sq. Ft.
No transactions were recorded during this period
Q1 2010
GROSS RENT & AVAILABILITY BY BUILDING CLASS CLASS
Net Rent $/sf. / Absorption (10,000's)
aaayyyyyy W W Waaa W W hhhW tth ttth bbbeeeth zzzaaaaabbb EE E Elilililililiz EE n n n n n n eee uuueeeeeeeee Q Q Q Q Q Quuu
300,000
0
Gross Rent $/Sq. Ft.
MC MC
r E EE EE Er
Square Feet
Sublease
333 4444400033 aaayyyyyy w w waaa w w hhhw ig ig ig ighhh ig H H H Hig H H
ttt eessssssttt Weee W W W W W uuueeeee eeennnnnu AA AAvvvvvee nnnA to tonnn to nnto n n li li li EEgggg EE
HB HB 427 Highway Highway 427 Highway 427 427 Highway427 Highway
46,372
ssstttttt Eaaaaaasss EE EE E aaadddddd Rooooooaaa R R R R eeeeeeR rp rp rp rp rp ooorp th th th thooo th m m m mth m hhhhaaaaaam h rn rn rn rn rn BB Buuuuuurn BB B
d aaa oooa add R R R Rooo R ie ie ie ie ix ixie ix ix Dix D D D D
-19,088
ttt aaassssssttt EE EE Eaaa E uuueeeeee eeennnnnnuuu AAAvvvvvveee nnnnnnAAA to to to to to nnnto ggglilililililinnn EE EE Eggg
ddd oooaa addd R R R Rooo R R ra ra ra ra ra th th th thra th w w aaaw wth w w C C C C Caaa C
Net Absorption
tt ee eettt eee trtr trtreee S S Str S oo ririo ooS ta ta ta ta taririri nnta ro ro ronnn uuro ro H H H H H Huu
3,758,458
333 3 000 03 440 aayyyyy4 w w w waaa hhw ig ig ig ighhh H H H H Hig
3,758,458
AW AW
40111 40 40 y 40 ay y 40 ay yy yy wa w way wa wa gh gh Hi Hi Hi ghw gh High Hi Hi
d ddd d ooo oaa R Ro R is is is isRR aaavvvvvvis M M M Maa M
Office Inventory*
Trend
d dd add aa oaa Rooo R R nn nR hlililililin ghh hh ugg au uu uu aa LLLaa MccccccLL M M M M
Q1 2010
ddd aa aa addd ooa R R R R Rooo w w w wR iew ie ie ddditititititvvvieie re re re redd C C C C C Cre
Q4 2009
SUBMARKET CHARACTERISTICS * This submarket represents the centre of the City of Mississauga where high urban density is encouraged * Well connected to Highway 400 series and Lester B. Pearson International Airport * Availability of highway exposure sites * Lower real estate costs than in the core (City of Toronto) * Great proximity to diversified labour pool which is fueled by multiple residential condominum developments e.g. Parkside Village by Amacon Developments * Top 10 Employers are Accenture, Baxter Corporation, Deloitte & Touche LLP, E D S
Canada, Morguard Investments , Pepsi-QTG Canada,Personal Insurance Company of Canada/Certas Direct Insurance Company, Praxair Canada Inc., Resolve Corporation, Symcor Inc.
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Meadowvale SUBMARKET INDICATORS
Q1-10 MAP OF SUBMARKET
Q1 2010
Office Inventory*
6,777,023
6,917,201
Net Absorption
26,292
259,314
7.5%
8.7%
$15.37
$15.24
Average Additional Rent
$9.90
$9.85
MV MV
Sublease as % of Total Available
70% 700,000 60% Square Feet
600,000
000
111 222 kilometers kilometers kilometers
Address
BB BB Buu B
SW SW
0 - 4k sf
39
4k - 10k sf
18
10k - 20k sf
26
20 - 50k sf
22
50k - 100k sf
4
100k sf +
3
** Counting smallest divisible units in existing buildings and buildings under construction.
Suite
Sq. Ft.
Tenant
Landlord
No transactions were recorded during this period
30%
300,000
waayy w w w ig ighhh HHig
# of units**
TOP Office Lease Transactions by Size
40%
400,000
ttt essssssttt W Weee W W W W uuueeeeee eeennnnnnuuu AAAvvvvvveee nnnnnAAA n o o o to to to tto t tto nnnto 3 333 ggglilililililinnn 4003 44 EE EE E Eggg yy 4
Number of units on the submarket by size brackets
RECENT TRANSACTIONS Q1 2010
50%
500,000
th th th th th uuuth oo oo ouuu SSo S ee eetttttS ee eee trtr trtre S SStr S nn nnS en ee ee eee ee uue Q Q Quuu Q Q
Direct
800,000
ttt eeessssssttt W W Weee W W dW aaaaaaddd RRRoooooo ia ia iaRRR ia ia nnnnnia n n n n n n n rrrititititititaaaaaa BB BB Brrr B
aaayyyy wa w w kkkw rk rrk rrk rrk rk aark a a Pa PP P lsP ls ililills ls ls M M Mililills M in inM in rd EE E rddd rrd aaa Erirrrirrinnn E vvva arrd le le le uu levv uu ule oou B B B Booo ililillllB hh hh ccch hililill l rrrc rrc uu uu urc hhhu C C C Chhh C nnnC to to to sssto tonnn to in in in in insss W W W W Win W
7 077 4400 aayy 4 w waa hw ig ighh ig HHig
AVAILABLE SUPPLY SPLIT
HH HH
1 11 40 40 401 40 40 ay ay ay 40 ay ay hw hw ig ig hway hw hw Hig H ighw ig ig H H
ssstttttt eeeeeesss W W W W W dd W aaaaaaddd R RRooooo R rryyyR eeeerrrrrrryyy e D D D DD D
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 97 office buildings surveyed in this submarket.
Sublease
AVAILABLE SPACE OPTIONS
77 444007 yyy444 w wwaa hhhw ig ig igh HHig H
dd aaa addd oooa R R R Rooo wR w w ie ie ie ie iew itvvvvie dititit reeeddd rre rre Cre C C C
Vacancy Rate Average Asking Net Rent
Trend
d addd oaaa Rooo R R R R is is isR avvvvis M M M Maaa M M
Q4 2009
TOP Office Sale Transactions by Price 200,000
20%
100,000
10%
Date
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period
0%
0
Address
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
Gross Rent
$30 $29.50 $29
Manufacturing & Distribution 55%
3,000,000
$28
2,500,000 $26.59
$27
2,000,000
$26
$24.96
$25
Sq. Ft.
Gross Rent $/Sq. Ft.
Data,Publishing, Broadcasting Services 6%
3,500,000
1,500,000
Finance 20%
1,000,000
$24 $23
500,000
$22
Class A
Class B
Others 0%
Class C
Public Service & Private Sector Services 6%
Professional Services 13%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
30 28 26 24 22 20 18 16 14 12 10 8 6 4 2 -2 -4 -6 -8 -10
Asking Net Rent
Vacancy Rate
8.7%
Address 9.0% 7.0%
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
2465 Argentia Road
First Gulf Corporation & Sun Life
250,000
BMO
Q1 2010
2050 Derry Road West
Great West Life
125,558
Shaw Communications Inc.
Q2 2010
SUBMARKET CHARACTERISTICS 5.0% $15.24
3.0% 1.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Absorption
* Well connected to Highway 400 series and close to international airport * Great proximity to labour pool * Numerous major corporations have recently located their offices, factories and research & development facilities into this submarket (e.g. GE Canada Inc., Microsoft, RBC Financial Group) * Lower commercial tax rates than in the core (City of Toronto)
-1.0% Q1 2009
Q2 2009
Q3 2009
Q4 2009
Q1 2010 -3.0% -5.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal reported off publishing, however we acknowledge there may be over time h ithd l without ith t notice. ti All numbers b t d use the th mostt accurate t information i f ti available il bl att the th time ti bli hi h k l d that th t th b marginal i l changes h ti as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Oakville
Q1-10
SUBMARKET INDICATORS
MAP OF SUBMARKET Q1 2010
Office Inventory*
3,301,770
3,473,145
Net Absorption
78,258
42,402
Vacancy Rate
8.8%
ttt eeessssssttt W W Weee W W W uuueeeeee eeennnnnnuuu AA AA Avvvvvveee nnnA to tonnn to to to nnnnnto li n li li gggli EE EE E Eggg
Trend
OV OV eeettttt treeeeeee trtr Strtr SS sssSS dddaaaaaasss nnnnnnddd DDuuuuuu D D D
7.2% $18.08
Average Additional Rent
$11.20
$11.21
BU BU 00
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 67 office buildings surveyed in this submarket.
ttt eesssssttt W Weee W W ddW oaaaaaddd R Rooo R rrreeeeR hhhhoooor s s s kkkeeeeesss LLLLLaaaaakk
aaaaaadddddd RRRoooooo eeeRRR ooorrrrrreee sssssshhhhhhooo kkkeeeeee LLLLLLaaaak
aaaaayyy W W W W W W th thh thth eeetth aaabbbbbbeee lililizzzzzzaaa EE EE Elilili E n n n eeenn eeeeeeeee Quuuuuu Q Q
LAKE ONTAR IO
10 10
AVAILABLE SPACE OPTIONS Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
450,000
45%
400,000
40%
350,000
35%
300,000
30%
250,000
25%
200,000
20%
150,000
15%
100,000
10%
50,000
5%
0
0%
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
18
13
14
34
1
1
# of units**
Square Feet
ddd oooaaaaaaddd RR RR R Rooo le le le le le dddle id id id id id idddd M M M M M eeerrrrrrM pppppppppeee UU UU U Uppp
W W W W EEW QEE Q Q Q Q
kilometers kilometers
AVAILABLE SUPPLY SPLIT Sublease
55
SW SW
riririvvvvee D D Dri aaakkkkD ooa rlrlrlo uuurl B B Bu B
$18.03
d dd dd ad aa aa oa oo Ro R R R R teR te te nte nn te te ron ro ro ro ro Bro BB BB B
Average Asking Net Rent
777 4440007 yyyy444 waaaa w w w w ighhhhh ig ig ig H Hig H
CV CV
dd aa aa addd oooa R R R Rooo R aarrrrrrR lg lg lg lgaa lg fa fa falg fa fa ra ra rafa ra ra TT TT Tra T
Q4 2009
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q1 2010 TOP Office Lease Transactions by Size Address
Suite
Sq. Ft.
Tenant
Landlord
No transactions were recorded during this period TOP Office Sale Transactions by Price
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Not Avail. Office Space
2,000,000
Data,Publishing, Broadcasting Services 5%
1,800,000
$29.79
Purchaser
Size
$/PSF
Finance 22%
1,400,000 1,200,000
$28
$28.31
1,000,000 $26.43
$27
Professional Services 25%
Sq. Ft.
Gross Rent $/Sq. Ft.
$29
800,000 600,000
$26
Manufacturing & Distribution 29%
400,000 $25
200,000
$24
Public Service & Private Sector Services 15%
Others 4%
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
18 MONTH TREND Absorption
Asking Net Rent
Vacancy Rate
23
$18.08
12.0% 15
10.0%
11
7.2%
7
8.0% 6.0%
3
4.0% Q4 2008
Q1 2009
Q2 2009
-5
Q3 2009
Q4 2009
Q1 2010
2.0%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
0
0
0
0
1/0/1900
SUBMARKET CHARACTERISTICS
14.0%
19 Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Vendor
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
1,600,000
-1
Price
Gross Rent
$31 $30
Address
No transactions were recorded during this period
Q1 2010
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Date
* Lease rates and property taxes in this submarket are competitive with other suburban locations * High amenity business parks and highway exposure characterize much of Oakville's office space and development sites * Strong and diversified economic base with over 260 national and international corporate headquarters (e.g. Ford Motor Company of Canada, Limited, The TDL Group Corp.,) * High quality local work force as 58% of residents have a post secondary education - within a one-hour drive, Oakville workers/employers have access to eight universities and eight technical colleges for formal or continuing education * Fully serviced by passenger rail service to Union Station in Downtown Toronto * There are two International airports within 30 minutes of Oakville : Lester B. Pearson International Airport and Hamilton's John C. Munro International Airport (Canada's number one freight airport)
0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal reported off publishing, however we acknowledge there may be over time h ithd l without ith t notice. ti All numbers b t d use the th mostt accurate t information i f ti available il bl att the th time ti bli hi h k l d that th t th b marginal i l changes h ti as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Propert
Office Submarket Dashboard: Sheridan
Q1-10
SUBMARKET INDICATORS
MAP OF SUBMARKET
2,098,099
2,098,099
Net Absorption
(5,069)
(43,388)
Vacancy Rate
5.8%
7.9%
Average Asking Net Rent
$15.03
$15.86
$10.31
ig ighh ig ig HH Hig H
$10.70 ttt eeeeeeett tr tttrrtr treree SSS Strtrtr sssS dddaaaaass uuunnnnndd D DD D Duu
OV OV
AVAILABLE SUPPLY SPLIT Sublease
Direct
00
Square Feet
200,000
4%
W W W W W EEW Q QEEE Q ttt eeessssssttt W Weee W W dddW aaaaaaddd RR R Roooooo R eeeR ooorrrrrreee ssssshhhhhhooo s e e e aaakkkkkkeee LLLLLLaaa
ddd oooaaaaaaddd RR RR R Rooo le le le le le dddle id id id id id idddd M M M M M rrrM r r e e e ee pppppppp UU U U Upp
aaaaaddddd RRooooo eeRRR ooorrrrreee ssshhhhhoo kkkeeeeeess LLLLLaaaaakk
W W EW EE QE Q Q Q Q
6% 5%
CV CV
SW SW
Sublease as % of Total Available
250,000
1.5 1.5 333 1.5 kilometers kilometers kilometers
L A KE O NT A RI O
Number of units on the submarket by size brackets
# of units**
0 - 4k sf
14
4k - 10k sf
9
10k - 20k sf
6
20 - 50k sf
7
50k - 100k sf
0
100k sf +
0
** Counting smallest divisible units in existing buildings and buildings under construction.
RECENT TRANSACTIONS Q1 2010 TOP Office Lease Transactions by Size
150,000 3%
Address
100,000
Suite
0% Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Not Avail. Office Space
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions took place during this period.
Q1 2010
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Tenant
Landlord
TOP Office Sale Transactions by Price
1%
0
Sq. Ft.
No transactions were recorded during this period
2% 50,000
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
Gross Rent
$35
2 000 000 2,000,000 Data,Publishing, Broadcasting Services 5%
1,800,000
$30 $30.75
1,600,000
$23.49
$25
1,400,000 1,200,000
$20
1,000,000 $15
Finance 12% Professional Services 48%
Sq. Ft.
Gross Rent $/Sq. Ft.
rrd rddd rrd aard vvvaa le le le le lev uule oo oouuu BB Bo B ilillllB hh hhilililll rccch rrrc rc uu uurc hhhu C C C Chhh C nnnC to to ssto tonn to in in insssto in W W Win W W
Average Additional Rent
ttt eeessssssttt W W Weee W W W uuueeeeee eeennnnnnuuu vvvvvveee A A A nnn 33 000 03 oonnn otto 0 tto nnntto ggglilililililinnn aaa ayyyyy444 EE EE ww wa E Eggg hhw
*Office Inventory: For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 38 office buildings surveyed in this submarket.
AVAILABLE SPACE OPTIONS
MC MC
MV MV
dd dd d aa aa ad oo oo oa R R Ro R R isis isR is is avvvvvvis aa aa Ma M M M M M
Office Inventory*
Trend
aaayyyyyy w w kkkw waa w rrk rrk aarrk P PP Paaa P ls ls ls ililills ls M M M Mililil in in nnM nin rrrin in in E EE Erririrrri E
Q1 2010
7 77 007 440 yyyy 4 waa ww hw ig ighh H Hig HH
Q4 2009
800,000 $15.99
$10
600,000 400,000
$5
Manufacturing & Distribution 26%
200,000 -
$Class A
Class B
Others 2%
Class C
Public Service & Private Sector Services 7%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Absorption
Asking Net Rent
Address 8.0%
7.9%
15
6.0%
4.0% 3.0%
Q2 2009
Q3 2009
Q4 2009
Q1 2010
Est. Com.
SUBMARKET CHARACTERISTICS
5.0%
Q1 2009
Anchor Tenant
* Well connected to several 400 series highways (401, 427, 410, 409, 407) and Lester B. Pearson International Airport; close commute to Hamilton's John C. Munro International Airport which is Canada's #1 freight airport.
10
Q4 2008
Sq. Ft.
7.0% $15.86
5
Developer
No construction took place during this period
2.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
20
Vacancy Rate
* Availability of highway exposure sites with excellent signage opportunities. * Lower real estate costs than in the core (City of Toronto) * Great proximity to diversified suburban labour pool which is educated with 10 universities and 11 colleges within commuting distance, with Sheridan College located within the submarket.
-5 1.0% -10
0.0%
Source: Colliers International, Q1 2010 Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
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